Ann: Placement to Raise $1.033M , page-18

Tradersam, the reason for the angst about the options is that it as seen as a "reward" for shareholders that stump up some extra cash, but what about all the other long suffering shareholders?

It leaves us deeply in the red and sends a message that KEY don't give a toss about us.

This raising on the surface to me looks like a load of rubbish. It isn't enough to pay for any form of drilling in Australia, UK, Tanzania or Italy.

So what's the point of raising a paltry $1m? The only logical conclusion is to pay the wages. In the next 6 to 12 months we need at least $9m or so for drilling. $2.25m for the North Perth Basin, $3.5m for Lidsey #2Hz and $3m or $4m for Nyuni #2.

Cash at bank and this raising plus cashflow from production in the UK just isn't enough so unless they sell assets we'll be left with a further raising in the next 6 to 12 months.

Message for you Ken, I know you read HotCopper as you've admitted as much to me, pull your finger out and tell us long suffering share holders what is happening with OUR company!

I'll definitely be voting against ANY options issue unless they are issued to ALL shareholders equally. No favoritism!