News in next two weeks? Taylor Collison's report has dated 25...

News in next two weeks? Taylor Collison's report has dated 25 May 2011 has this to say...

"Transit?s land holdings are made up of two separate land titles, one being the federal owned land, which is the BLM and other being state owned land.

Approvals for drilling on state owned land is far easier to obtain than for the Federal land from the BLM. The recent announcement from Transit on the 19th April was a rightof-way permission from the BLM for Transit to cross Federal land to access the State blocks for
drilling.

Therefore once the State authorities grant Transit their right to drill on State lease blocks which is estimated to be end of May), Transit will have all clearances to begin their 4 hole drilling campaign."

I also anticpate there may be news of a capital raising. And some posters have suggested a capital raising could be at a price higher than the current share price. Makes sense given the limited number of shares on issue and fact that capital raised could give the purchaser a stake with some control premium.