Well, you bring up a good point IF CGX hits. But I have mixed feelings. 70 cents seems cheap to me. They could have easily waited until Inpex announces (I am assuming it will be positive otherwise why would CGX want to go "all in") and have the stock price around $1.00 for a while and then have the offering. They have diluted the shares from 190mil to 320mil. Your share is now 60% of what it was yesterday (although the company now has a healthy $100mil in the bank).

One possible scenario is that a rig is available now and they wanted to move forward more quickly. But why the hurry? They could have waited until Jaguar was drilled and have the stock price even higher therefore diluting the company less.

So, not sure. Am open to any further convincing though...