cdchi1 "Only small issue I have is that it may have been better...

cdchi1
"Only small issue I have is that it may have been better to wait for next update before negotiating cap raising terms."

i agree with you there but we don't know if they were the ones approached!! It's quite possible they were, if the fields are half as good as the market/company seems to think they are. Remember the re-evaluation immediately to the south of the Angelim field!

The issue price will be very telling
**under 30c....one would have to seriously question the potential of these wells.

**45c at roughly 15% discount is a possibility. Not bad, and if history repeats, the sp should not close below 46c and jump to 60c within one to two days.

**50c or above....very bullish signal!! Would be safe to assume that they were approached re the placement....sp should climb very rapidly above 60c.

just my two cents worth!