i'm concerned it's nothing more than a simple pump ahead of a cr at or about 1.1, 1.2.
however, i recall they got a cap raising away at around 2.1 recently (...tossers should have asked for more then!!!...) on the basis of even less information. the drill did reveal some gas, revealed more knowledge re seams and strongly hinted that in seam 30 is expected to be more productive. ever the optimist, just maybe someone with deep pockets is interested in a significant position on the basis of this additional information... or is that forlorn hope??
it's also possible that a farm in of sorts has been negotiated. so less a dilution of equity but indirect dilution by way of project farm out...seems a long shot, but stranger things have happened.
timing i expect will be soon ...possibly as late asc31 july given they'll need to fess up position in qrtly.
hang on for the ride i suppose!
TNP Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held
