I don't like to speculate but just for fun i'll say that CNOOC...

I don't like to speculate but just for fun i'll say that CNOOC is going to farm into the new blocks for another $50m or so.

The anny said "strategic placement", kinda different from capital raise. Last time CNOOC got offered 30 cents options or something. So maybe they will get oppies for 15 cents or something. If it's a big farm in the oppies should get in the money so that will be enough for the 2013 program.

I'll be pissed if it's a large placement at a huge discount from todays share price. The board hold alot of the oppies so they might as well convert them.