It will be a test of mgt, preserving cash now, yet still being involved with funding seismic studies in Indo.
There will undoubtedly be cap raising if Cadloe gets the nod. I hope they just offer CR to prof & sophisticated investors, as it is the ord s/h who stuff things up. The CR will be successful, but in case it's not they will have to ensure they have Albers is ready at a predetermined arrangement. They should beable to get some debt financing.
I don't think anything will happen until Oct. when they do a cap raising.
If they are forced to do a CR, Sp could fall to 0.005 very easily.
PKO Price at posting:
1.2¢ Sentiment: None Disclosure: Held
