Ann: Improvements to Farmin Terms , page-5

waterglobe,
extract of the share issue ann. follows:-

"RELEASE
PRELIMINARY ADVANCE NOTICE OF NEW PRO RATA SHAREHOLDER ISSUE
AND PROPOSED PLACEMENT
Moby Oil & Gas Limited (ASX Code: MOG) is pleased to announce that, in furtherance of meeting the conditions precedent for the acquisition of Rankin Trend Pty Ltd and the Braveheart and Cornea farmin agreements, as previously announced, Moby proposes to make a new issue of shares to members on a pro rata entitlement issue on a 1 for 1 basis and will seek shareholder approval to place additional shares.
The new issue will be a pro rata non-renounceable entitlement issue of 79,505,481 shares on a 1 for 1 basis with the New Shares being offered to members at an issue price $0.18 (18 cents) per New Share to raise $14.3 million.
Members will be given a priority entitlement to subscribe for additional shares pursuant to the entitlements portion of the offer, subject to availability.
The pricing is an attractive discount from the present market price of $0.275 (27.5 cents), as at close of trade on 20th October 2009.
In addition, Moby proposes to seek shareholder authority to place a further 40,494,519 New Shares at a price of not less than 20 cents, so that the total number of New Shares offered for subscription in Moby will be 120,000,000 New Shares.
The proposed issues will raise a total of $22.4 million which will be applied primarily in meeting Moby’s obligations under the proposed Braveheart farmin and the proposed Cornea farmin.
A more detailed New Issue announcement (Appendix 3B) will be issued by Moby prior to the lodgement of the prospectus to be issued by Moby in relation to the proposed pro rata offer of shares to members. That New Issue announcement will have full details of the record date to determine entitlements to the pro-rata offer to members.
By Order of the Board"

ANZ