trading halt, page-10

i would have to guess, that this is the minor raising,

and that we are still for a major raising in nov dec?

One would think, that they would have announced flow rates, etc, to get the sp up as high as possible, before the major raising, to crystalise the thinking of the market, that a sale event is being continually derisked.

If it began to look like a sale event was more and more likely, say with the IRR and flows showing good, the market would do as they did when it ran to 50+c, thinking sale event means 1-1.50+, and position accordingly.

Its all about the belief in either flows revenue able to pay debts, and/or flows de-risking sale event.

Right now, at 60mill mc, for a sale event in the 500-800mill tag, we are being priced for a non event.

Lets hope they come out with some solid flow numbers at the expectations of 7+2, to at least be on a similar footing as the previous flows. Re-instating previous flows or better, will be a confidence boost, in that if the first two wells can be opertaionally managed sucessfully with the new protocalls, then so ought the other wells, and there be the dominos, all the way to the market then pricing MAE again, for a sale event, not this bottom of the trough levels.

Post major cap raising too, we will have got say half our debt reduced, and also means that flows to service debts are not as high requirement.