Ann: Capital Raising Update , page-29

Thanks for the comments Surandy. I agree if directors have not participated then we have a been a bit mislead.

On announcements, it is clear this team doesn't worry about egging the market on. I think they are focused long term and either you get on board with that or get over it.

The idea that a producing well in England will give them some leverage with Italian authorities is intriguing and would be nice if true.

On the raising timing I suppose it is possible they needed some cash in the kitty to confirm the deal.

One thing is clear, if they succesfully achieve 500 barrels a day, then the share price will rise substantially. More importantly they will be able to self-fund a significant chunk of the exploration program.