Ann: $5m Placement to Advance Windorah Gas Project, page-77

Unless they think they aren’t going to achieve certified reserves. Then it would make a lot of sense to do a CR when they did.

I think the jury is out on that, so until we see a good pressure build up and several months of decent flow then anything is possible. It could drop away quickly.

It isn’t unusual for O&G companies to raise after initial flows but before possible certification as it would be financial suicide if it doesn’t come off.

I hold some as the market cap is very low, and things look pretty good. But anything is possible in this game.
With their low market cap, relatively small amount of shares on issue, and 100% ownership I think raising a small amount of $ now is sensible.