re prospectus, page-2

I would guess most current interest is by existing holders who will buy into the rights issue in preference to buying stock at present. THe shares are currently trading EX entitlement so no adjavtage of anyone buying in to get some of the rights issue value. The rights issue is at 6c plus an added option EBROA currently trading at 2c. So while the stock is above 4c the overall deal is much better than buying on-market. THe uptake of the shares will dilute the stock by 20%ish so I guess that is the reason for the drop in price we are currently experiencing. Drilling in Cooper may still be 2 months away given that the rig is currently being used by Beach in the area and has been held up be road closures and heavy rain that have caused long delays.

But interest will build as there is more concrete drilling dates...