Hard to say, but I am sure they will want as much as they can...

Hard to say, but I am sure they will want as much as they can get. I suspect UK and WA will be the assets requiring cash.

Assuming the UK is not a dead project and they want to proceed with the re-drill, then that is likely to be a high priority, so they will need enough to cover that.

TZ: I guess they would prefer a free carry for one well on WSS. Hopefully we don't end up with 5% remaining for FC on a single well. Companies are pouring billions of dollars into african east coast oil exploration. So probably no money required for that except a small amount for tie in.

Italy: Who really knows what the Mafia are up to in that country this week. I doubt the company will pour any money into that black hole of corruption, but might again attempt a free carry on any remaining assets. Good luck with that though, Somalia is probably lower risk than Italy for the foreseeable future.

And of course WA. Two focus areas: The Perth basin: KEY likely to be looking for cash for it's share of another well there. And of course the Canning. I am guessing they might not wait around for Buru to drill EP438, and certainly cash requirements there would be a year or so away depending on results, but I guess they would like cash to push their share of EP448 and RL1. So I am guessing maybe enough for two wells in WA over the next year? Anyone know what recent well costs are eg on Buru's wells?

If they are not going to dilute us heavily to mates (looking unlikely now with the push up) then I guess they would be looking to 5-7c for a capital raising based on 'reasonable' viable asset values , but would probably prefer a higher price and lower dilution if they could get it, and that might be possible the way some of the Canning focused companies are being pushed. Certainly an announcement of a JV into WSS would light a rocket under the company and enable them to do a placement at a much higher price.

As for the amount... Could be anything from a 50% of issue placement to a 150% of issue placement if they have aggressive soph/instos who want to punt on the Canning. I think they will take what they can get and then tailor the aggressiveness of any campaign to the amount of cash they have.

There is a 50k buyer recently active who kicked in immediately after that odd bot dump of almost 800k shares in 100k parcels a few days back. Weird action there. I don't know if that seller was trying to trigger a share dump or was just getting out, but the 50k parcel buyer appears willing to push the share up when it can, but stops whenever the sell side gets stuffed with ~500k parcels as it is at the moment.