It's dilution because the O/S increased. The shares don't have to be dumped in the float directly from the company for it to be considered dilution, although they were obviously sold by the company at some point.
Although I think you will see dilution straight from the company soon enough. If Ken is sure about being able to drill this year with no obvious private financing in line, that only leaves one option. Hope you've got your wallet ready, because there's going to be plenty of cheapies hitting the market.
why would we trust him? very little he has promised over the last year has come true. in fact, he went against what he promised and diluted and raised the A/S as one example
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