10mc, get a grip mate. There will be no cap raise until the pilot well is approved. This news will re-rate the SP (1.3-1.5 imo) maybe higher if it is pumped. Then the cap raise will occur (possibly around the 1c mark), it happens all the time. Funds will then be used to source a drill rig and get things underway. If the pilot well is not approved then its game over for this CO and there will be no cap raise.
cap raising needed, page-3
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