Hey asteroider,Just got back from a holiday overseas and have...

Hey asteroider,

Just got back from a holiday overseas and have been catching up reading all the posts, and a flood of announcements. I am not convinced we will see any huge dilution in the short to medium term. IMO UK, will not be looked at for at least another 12 months, you only have to look at the mess in Europe to realise that our UK and Italian assets are better off left alone until the market improves.

That is why the OZ deal happened, it is a pretty safe bet IMO that the only cap raising will be when we need to front up with cash to drill OZ.

There is no need to push Tz either, .......positive cash flow will happen in 2012. We are also cashflow positive with our existing UK assets, so what’s the rush given the market sentiment there.

If and when they decide to do a cap raising, I am a little more upbeat and still think we will see it in excess of 3c. They could have easily tried to raise cash as part of the OZ purchase, but chose not to, which says to me that they want to keep the dilution minimal at these levels.

With regards to the announcement on 8/12 regarding the completion of the acquisition, what a pathetic thank you from DW and JR on Ken’s “contribution” as founding director. It is obvious to me that there has been quite a bit of mud thrown around the boardroom table over the last month. Have you spoken to Ken recently.

Cheers
R