Ann: Renounceable Entitlement Offer to Shareholde, page-2

re: Ann: Renounceable Entitlement Offer to Sh... Interesting announcement.

Offer closes on the 4th August - plenty of time for further announcements, particularly regarding seismic for KN-1.

I'm sure management, with their connections, could have sought underwriting for this offer, but have chosen not to on this occasion.

Must be confident of securing reasonable subscriptions anyway.

My impression is they are reserving current cash for activities elsewhere - it could be commercialisation of KN-1, or as a drill-in partner for AEX's Mikindani-1 oil exploration well down south in the Ruvuma Basin on the Tanzania/Mozambique border.

Haha, plenty of options for shareholders also.