This plaement has nothing to do with raising cash to ramp up drilling..... It is all about averaging down the cost to those that did the $4.00 financing and were forced to exercise their $5.00 wts..... Thats it!

As I stated several times prior to the takeover.... this would happen... and now it is underway.... yes the longs are being taken advantage off.... relax and enjoy it... The bay street boys will have their jollies and then they will turn on the charm buy running the stock price back up.

My prediction is that they hold the line at $.50 for downward pressure as the real cost for the flow through for investors is about $.44/ share.... If the price drops below $.50 then expect to see a wt added to the offering.