I don't think so. They raised the cash because Hilcorp will start to crank up drilling activities in the AMI. You either keep up if your ADI or get diluted. And being frank they only have 10% so you wouldn't want to see any more project dilution.
I think the cap raising was a good thing. Sure there will be short term pain but the long term reward will be worth it. Holders need to be patient. Success for all JV partners as well as other Eagleford players (AZZ & TXN) will come as the play and exosure matures. You don't kill the pig overnight.....
All the best.
ADI Price at posting:
28.0¢ Sentiment: Buy Disclosure: Not Held