OTCPK:ATGYF - Post by User
Comment by
Bigbadoilon Aug 22, 2011 3:17pm
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Post# 18967791
RE: How Can A BOD's
RE: How Can A BOD'sAt least AEN didnt go bankrupt like Oilexco.
The company has no debt, and $76 million in the bank and is about to drill 3 wells this fall in the North Sea. They are active in Argentina and a land position in the one of the developing oil shale basins (Neuquen), also interests in onshore/offshore Tanzania (another developing play)..
Yes they are slow and there is no doubt about that...but are they really that bad considering the points made above? They are developing their N. Sea fields without the use of debt (this is the UK where they nationalised several banks including RBS which was a major N sea lender).
Mr Greer ( even though he is earning a fortune) may see it a different way. He may contend that they are running AEN in a safe and prudent manner which preserves wealth for shareholders and does not expose them to undue risk. Considering the events of the last few weeks (years?), this could be sage behaviour indeed).
IF you want a "rocket ship" stock, maybe AEN is not for you. Its a case for slow and steady wins the race here. Finally though the "ship" is changing course course as at least we have the upcoming drill program to look forward too.
Diferent horses for different courses...