Ann: Quarterly Cashflow Report , page-4

You are probably right (rgd rights issue), although it does note in the cash flow report that 'During April 2012 US$1.2m was received, and a further US$1.2m is contracted to be received no later than 04 May 2012, from pre-selling the oil to be produced under the trial production of J-50 and J-52.'

From my rough calculations (600 BOPD * 30 days * 3 months * $58 / barrel), they should be pulling in around US$3.1m revenue per quarter... maybe they wont need another rights issue?