This is a "Bought Deal" so the underwritters are committed to buying these shares, there are no warrants attached to the offerring and there is no mention of Fee's or commissions, looks like the underwritters are more than anxious to get their hands on these shares.

CGX had enough cash to fund their share of spudding Jaguar before this Bought Deal so with the proceeds from this offering and the cash in the bank it looks like they have a good portion of the cost for spudding Corentyne (35 mil) but not quite enough. Why they raised this amount of money at this time I don't know but, it would certainly give them enough cash to put a 50% deposit on a rig for spudding Corentyne, as per the contract with the Atwood Beacon they would have to commit to a 5th well within 10 days of starting Murphy's 2nd well.

Things are starting to get interesting.