RE: BRE-Xdifference is that Bre-x had no gold, it was a scam.
Opti had a good idea.
Construction happened at the peak of oil and construction in early 2000. Cost over runs were terrible.
They had numerous problems to overtake with the wells.
They couldnt get the ramp up two years ago like planned.
All the while, the weight of the interest is compounding on top.
Its a great buy if someone can come in and buy them out and not have the interest. BUT who is going to pay that much and not have 50% of the long lake?
When they sold the 15% they had to have been close to breaking even. Management blew that. Management killed this company.
I still feel nexen will buy it out at about $1.5/share but that is after opti shareholders have no other course. And that will be when the stock hits 10c and does a reverse split 10:1.
Just my thinking