nathanblack,The RI underwritten by Waterford was for $9.17M @...

nathanblack,

The RI underwritten by Waterford was for $9.17M @ 2.7 cents per share which equates to 339.63 million shares.

The 101.8 million shares is 30% that, under my scenario, is the 30% balance that Waterford could obtain through their underwriting.

The 133.9 million shares are the initial placement (=or< 15%) that gives JPR immediate cash without shareholder approval and has nothing to do with any entitlement under the rights deal.

Future funding is dependent on a number of factors:

* production (can production from two additional wells - if successful - pay for future wells)
*additional acreage (remember the deal JPR could not finance when they attempted to purchase additional acreage at $5 per barrel?)
*etc etc

Control by voting power? Maybe, maybe not if current directors remain.

Lots of scenarios that posters can gossip about; but, I'm happy with the current situation and will happily take up my portion of the 1:3 offer.

And, in answer to GO's inevitable contrarian view (god bless his black humour):

"It does appear from your numbers that the Ruskys will not/cannot buy any more shares on market , thus leaving JPR at the mercy of existing (and impoverished) shareholders."

Soyusneftegas are an 'arms length' entity to Waterford (even if the Directors speak the same language - an official language in Kazakhstan which should help JPR as well) and have the ability to purchase another 15% of JPR provided they are not 'holding hands' with Waterford as you, nathanblack, so rightly highlighted.

I repeat: Nice to see the sp remaining buoyant today :)