didn't sxy (senex)do similar when they first began drilling in the CB. A number of capital raisings & a consolidation (10 for 1 if I remember) when it change names and management from VPE...with the $$$ behind them they have never looked back...if we don't raise capital we wont be able to fund the admin of this company for the next 6-8 months let alone drill a FEW wells.
Don't like dilution but have secured funds for future drilling campaigns even if marsden is a little disappointing...pretty good insurance if you ask me...
my view only but now we will be able to focus on CB AND EAGLE FORD...good times ahead I feel...
why announce a capital raising now..?, page-32
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