Saturday, 23 April 2011

Shares and Q&A Transcript

Dart Energy, the company planning to explore for coal seam gas in the Putty Valley, is raising $100 million to accelerate exploration and development. A link is posted to the Q&A session with Dart's reps and the Putty community.
When checking the Australian Stock Exchange’s website for companies with shares in coal seam gas mining I discovered that trading in Dart Energy shares has been halted until 20 April 2011. Dart claims on its website that it is fully funded to meet its minimum committed expenditure in 2011, but with additional funding has opportunities for accelerated asset exploration, appraisal/pilot drilling and early development to a point where funding options other than equity become viable. Dart is raising approximately A$100 million by way of a fully underwritten 5 for 22 accelerated entitlement offer to fund this accelerated programme. This does not augur well for the Putty Valley.

Eligible retail shareholders will be able to buy new Dart Energy shares from 29 April 2011 to 13 May 2011. The last share traded before the Easter break was 85c. In the last six months the shares have gone from around 80c to $1.30 and back down to 80c. My aim is to make them go below 80c. Investors please take note.

The transcript of the Q&A session at Putty Hall on 9th April has been sent out to the Putty Community Association’s mailing list and to other interested people.

The technicians arrived on Sunday to fix our satellite, making life a lot easier.

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