News: ATS Australis Oil & Gas Seeking Commitments From Investors To Raise Up To A$30.5 Mln, page-33

I wouldn't confuse 'luck' for genius SG.  And to suggest that completing drilling a well would have propelled the stock higher to lower dilution shows how very little you understand about these companies or in markets in general. Or contest that management would deliberately place, defer settlement and commit to participating in the placement ahead of releasing operational news that they knew about at the time of raising the money is absurd.  The physical timing of drilling to tripping out of hole is evidence enough of the absurdity of your insinuation notwithstanding the respecting the information age we are in and the market efficiency (and indeed legal electronic paper trail) that it creates.  I would go further to point out your sound insights resulting in investing in FDM as further proof.