Ann: Non-Renounceable Rights Issue, page-19

Another capital raise!!
Six Billion plus shares!!
If they are so confident of a farm in deal prior to xmas why do we need this CR. Something smells fishy here!!
What happens if the farm in deal doesn't happen?
What happens if the western block doesn't strike oil?
A lot of uncertainty with this company. The only thing that you can take for certain with this company is that if they do a London presentation a capital raise will follow.
Need to think seriously before throwing more money at this company.
What will they get for a farm in? 500 million? Perhaps only 200 million? 500 million for 6 Billion plus shares would see the share price double or triple from here. Thats not great for the average small punter. All right for management that have millions of shares. On top of that a lot of people will be looking to get their profit out.
My days of being confident about this company are long gone and not too sure about buying into this lastest CR.
Need some one with a bit of knowledge about farm in deals to change my mind.
I am once again disappointed by this latest CR.