cheapest oiler on the asx, page-5

I think we are seeing a short term down 'blip' this week as NXS has announced a cap raising so AZA's shareholding will likely be diluted by around 10-15% (I think NXS will do everything they can to make sure it is diluted i.e. not offer AZA a placement) AZA are having their AGM friday so they should reassure us the will NOT be a reserves downgrade. I have topped up at 1.25 and 1.23, will put a buy in at 1.18 and see if it gets hit before fri... In the next month I expect there will be a significant re-rating of AZA driven by: Reserve report and continued growth of NXS despite reduction in holding %.