Wobbly"Material new development opportunity". Hmm that could be...

Wobbly

"Material new development opportunity". Hmm that could be anything from (as you say) a horizontal drilling program to acquisition of new acerage. Big unknown!

"Short term funding facility". Definitely not a share placement (for now), unless it is some kind or rolling share issue to a funder, providing cash injections in exchange for shares on a schedule, at a discount to VWAP. Seen this on another stock I hold.

Waiting with baited breath for the follow up announcement.