Your entitled to your opinion,it goes without saying,I dont...

Your entitled to your opinion,it goes without saying,I dont share you negativity.
In almost all capital raising's,dilution is inevitable.
Given the near term gas price risings on the East Coast, Gippsland will prove a sound investment(IMHO).
East coast gas prices set to triple

Energy fellow at the Grattan Institute, Lucy Carter, told The Weekend Australian: "The real challenge with gas prices is that you can have a scenario where there can be a $12 price.

http://www.theaustralian.com.au/bus...es-set-to-triple/story-e6frg9df-1226728846266

Your premise that no one else wanted them is also questionable,perhaps they saw the potential in OBL to monetise their assets,should you look at SER,their moving away from their oil & gas assets to focus on Graphite,Graphene,and I trust their copper and IOCGU prospects.

There are two gas processing options for Gippsland gas,either COE's or the Longtom plant, STO/ NXS or channel seven energy if they take over NXS.

I reiterate,IMHO they are valuable assets.

The Cyrano permit is another matter,overtime one would think Apache will have the permit,given the close proximity to other assets they own/operate.
Whether or not OBL makes any money over the deal is a moot point.
I say this for from now on, all of managements energy's should be on the Canning and to a lessor degree the Gippsland assets,as Meatloaf said,"two outa three aint bad".

Its clear to me were focused on trying to prove the Backreef field as an oil producer.
Should we get the oil to flow,cheaply by re-entering previous wells drilled, we should be self funding for the Laurel formation.
This of course assuming were not bought out in the meantime.
I look forward to the quarterly report.

Raider


In the land of the blind,the one eyed man is King.