"2 - 5 rigs for h2 2010", page-24

sushi im glad your posts are becoming far more objective, i can see more into your viewpoint

In regards to cR taking time . SPP have to have a prospectus, which costs a lot, it has to have an underwriter, which cost a lot and they take up to 6 weeks, before the capital is secure.

You will absolutely be wasting your time writing to stop it. I would not invest in any company that was required to issue a prospectus every time it wanted capital. The company would be incapable of making quick and profitable negotiations and deals.

As i say you still cannot prove why they raised the way they did. Perhaps hillcopr said we can get a 5 rig program for 2011, but need you to sign off and have funding in place withing 5 days. Who knows? Just wait and see, time will reveal it.

In regard to timing, hell yeh if at alllllllllll possible they should have waited till those flow results the next day had spiked the price a bit.

In regard to secrecy - i agree it would be nice to know more sooner and i have taken that up with Jon Stewart at AUT. I have suggested they are in breach of ASX rules. Joh assures me they have stringent contracts, penalties and processes in place to prevent chatter. I dont buy it, but his hands are tied , thats as much as the ASX co's can demand, as the US disclosure rules allow Hilcopr to delay info to the JVP's, but they do not allow the JVP's to withhold that info once they have it.

SEA has primarily tiny interest at present, when it starts drilling its big interest wells the news flow will change imo.

So its a case of tough luck. If hillcorp want to keep it quiet till they get there rigs bad luck. If you dont like it, no use whining, get out or tolerate it.

IIn relation to you getting back in after a long time out. Your recent decision has surely been a profitable one, if it was timed right. So let go of the old stuff, its a new ball game .

Ive made it no secret I favour AUT over ADI at present due to the free carried wells. But im also aware once they all start paying thier own share the game may change. ADI may become very attractive operating from a lower market cap, with each new well bringing a bigger % change in price.

I will wait see and when a different deck is dealed, i will play that hand.

If you want to know how good ADI is price wise, go look at TXN. I cast the eye over it with a veiw to purchase and by god, its over priced compared to ADI, but yet same number of shares nearly. It has $5M cash, some cash flow from other wells, $860K per mth aud. But no drilling partner, no drilling program, and insufficient cast to drill one horizontal well. yet its priced at 39c and just been as high as 54c.

ADI is a bargain imo and your bashing it like a high priced politician.

PS i dont hold so all honest opinion 110%