Ann: New Institutional Funding Agreement, page-8

Ok, but for such a small amount why not hit up the "sophisticated investors" - Come February their is gonna be 100millions of shares trading at a discount to the market price - how can we get any positives from that? Seems to me even the sophisticated investors have given up. Hopefully Rey can get a decent farmout.

The only positive is that the Market Cap of BAS is pretty much the same as OBL now - and our Gippsland assets are better than theirs IMO. Still clutching at straws though.