"ADI had no option but to do a CR now if they wish to participate in the continue drilling of the jv."
Really?
Raise funds RIGHT NOW before the fracs are completed?
What new wells are scheduled to be drilled? There was NOTHING in the last update and indicated NOTHING in the next couple of months.
Is the $5 milion +/- on the books not enough to do the drills (whatever they are we don't know)?
If a 'sofisticayted and professional' type cap raising, why give away the discount to 'new blood' or those that haven't been long term holders of the shares?
ADI Price at posting:
29.5¢ Sentiment: ST Sell Disclosure: Held
