RE:RE:Latest News Release
I'm a long time holder of AXE, but may start to trim my holdings going forward because of today's news release. Here are my thoughts on the new release: 1) I don't believe we know yet if the technology really works because all that was said was that "oil is flowing". At what rate is oil flowing? It could be a drop or it could be more? Who knows? Crucially, at what power input? These are the technical parameters that determine the success or failure of the technology, and nothing in the news release says anything about this. We know from the trials in the 70s that getting oil to flow with RF is not hard, but what's hard is to get enough oil to flow at a low enough power to be economical. In fact, this part of the news release seems "forced" and was probably only included to mitigate the negative news of Laura leaving. 2) I don't care which way people spin this, but Laura leaving is really bad news for AXE. Whenever you have a CTO leaving in the middle of a pilot trial, it's not a good sign. There's still loads of R&D to be done to get the technology into a commercially feasible state or tech readiness level, so to have your CTO jump ship is quite surprising to say the least. Having said that though, she could have her own personal reasons for leaving at this delicate time, but on balance, I can't convince myself to believe it's a positive sign, and apparently neither does the market. Just my two cents. I hope AXE succeeds, but I would suggest caution from this point on.