interesting rights issue, page-20

re: interesting rights issue...ex tomorrow tiger2...

Probably wont see any real selling in the rights until the price gets to 18c+...this is about where fair value is at the moment.

Of course, that figure will rise as the share price rises.

The rights are very, very cheap at the moment...I've grabbed a few of these today to add to my existing entitlement.

Generally speaking, rights tend to fall off a bit in price as they approach the conversion date...several things should prevent it happening in this case.

1. I suspect many don't understand the goodies that come with them...LOL...it really is a case of "bit wait, there's more". Even if the shares were to fall all the way back down to 12c, which is the rights conversion price, they would still carry a value close to 10c in my opinion, due to the 2 free attached options.

2. Drilling is about to begin...there is a much greater chance of a rising price than a falling one as I see it...as such, we may not see them any cheaper than today.

Cheers!