Let's have sensible discussion, by TOTALLY ignoring all trolls,...

Let's have sensible discussion, by TOTALLY ignoring all trolls, uprampers and downrampers.

I feel there is a need for intelligent discussion of our current situation as the dire SP after such a successful drilling campaign is quite unprecedented in my experience of over twenty years of dabbling in the Oil and Gas space.

I'm at a complete loss to adequately explain how we have ended up at such a low MC while having such enormous potential supply of hydrocarbons seemingly at our finger tips.

The CR is what it is. We need money to progress the campaign to the next level. Just as M1 had to be funded as the first step to understand the resources that exist in the basin,
the flow tests, completion of drilling out the rest of the Lower Anwar and the 3D seismic now need to be funded.

The share price is sh.t but we need money to continue the campaign. The design of this CR which allows current shareholders to buy the majority of the cheap shares and free option seems like a fair and reasonable solution to the predicament the company has found itself in. Life can be a bitch sometimes, and whatever the reason for the low share price the solution is to move quickly and complete the next stage of the campaign.

Whilst the striking of a high pressure gas zone caused problems in drilling M2, I think that was the most important event in drilling the M2 well. Note that once they increased the mud weights and got the well under control they kept drilling for another maybe 350 metres. There hasn't been any details that I'm aware of whether the whole of those 350 metres was similarly over pressured , and then there is another several hundreds of metres of Lower Anwar to drill through.
I am very sure Scott was hugely excited about discovering the high pressure zone and kept drilling to make sure it was "real", and wasn't just a quirky thin sliver.
And then they had to stop drilling, as they had buggered up the well and would be up for the expense of a side track.
And then everything falls apart share price wise.
Sidetrack, samples everything goes like a well oiled machine but the selling of share's continues relentlessly.

But you have to laugh. How stupid it all is. Poor Scott. Instead of acclaim and adulation it is all doom and gloom.

Goodo, a CR. Get the money and get the program going full steam ahead. Drill the rest of the Lower Anwar, flow test and complete a 3D seismic and then have a look at what we have got.
Almost sounds like I'm upramping but sometimes it is hard to see the trees for all the dense forest.

Saltbus