The higher the share price the less shares that will be issued....

The higher the share price the less shares that will be issued. The good thing about it is the flexibility as to when the company calls on the finance. For example the work over rig can come and fix the problem at lorraine and an early announcement stating problem fixed gas beginning to flow (all prior to paying for the rig) then share price rallies and financed called at higher prices to pay the bills.

It should minimise capital dilution as compared to raising the money now to fund the works so as long as the company has some exploration and production testing success.

It looks like the financial winter freeze is slowly thawing out.

cheers Icharus