Ann: AusTex Oil Announces $3.2m Placement to Inve, page-8

re: Ann: AusTex Oil Announces $3.2m Placement... Shareholders need to look at the big picture IMO. Capital raisings are a necessary evil when it comes to junior explorers. Yes, there will be some dilution but as long as everyone makes money in the end (some more than others unfortunately), who cares.

IMO, the horizontals will look after themselves. It is not uncommon for companies to get into Joint Ventures in order to fund horizontals particularly in a hot play like the Mississippi Lime. This is how I am guessing they will proceed.

As I have posted before, Range Resources, our closest neighbour, has reported impressive horizontal drill results just slightly south of our landholdings. I would not be surprised if they are watching our progress closely.

2012 will be an exciting year for all AOK shareholders IMO. All the best with your holdings.