No , A$15m is repayment of debt to Macquarie : (A$10.1m +...

No ,

A$15m is repayment of debt to Macquarie : (A$10.1m + A$5.4m) .

Only A$3.3m is allocated to the NT work program so not enough to drill a well let alone log and complete one .

The dilution at the very low price of 2c is an additional 285,847,000 + 750,000,000 = 1,035,847,000 shares .

According to the 3B of 18/June/2018 , EEG had 1,265,237,176 ordinary shares .

So the overall dilution is : - 1035 / (1265 + 1,035) = 0.45 = 45%

If the 495m (375m + 120m) options are converted , the dilution becomes :-

(1035 + 495) / (1265 + 1,035 + 495m ) = 0.547 = 54.7% .

So Mom and Pop shareholders have just lost over half of their stake in EEG sold half price to the spivs compared with the recent during trading session high of just over 4c .

Gee thanks Bruce . Thanks for letting ordinary shareholders participate an open offer NOT .