So for a minute let's ignore the timing and type of cap...

So for a minute let's ignore the timing and type of cap raising.

The question is still why given the amount of cash on their books.......

The following reasons have been suggested:

1. Yemen drilling -

Don't have any idea, but some have suggested that it is too early to raise cash given that ADI wants to sell it.

2. JV drills

a. Well the amounts raised by EKA and the amount of cash on the ADI books prior to the cap raising would probably cover this year's program at one well a month or maybe one every three weeks once the cash comes rolling in.

b. The 2011 drill program - nope way to early and again EKA would have had to raise more.

Well thinking outside the box the only other thing that might be possible is a bid for all or part of EKA on a cash and scrip basis especially given EKA's lack of increase compared to ADI and AUT...

Repeat that is just ole speculation and I have no idea if that is the case, but EKA has moved up smartly on decent volume and is still way undervalued.

I hold lots of EKA.

Thoughts???