OTCPK:WSRLF - Post by User
Comment by
canadafoxon Feb 26, 2015 1:06pm
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Post# 23468422
RE:RE:RE:RE:WZR
RE:RE:RE:RE:WZR
mj; You can have whichever opinion suits your prejudice. What was NRd was entirely reasonable IMO... Why would anyone buy a Kurdi E&P without stringent safeguards when ISIL were knocking on the door of Erbil ? A sales price was agreed and ISIL shut the deal down. What would you have management do then? Let the company fail to meet its obligations a few months later and go bust and have its PSCs taken for C$0.0 ? Have a look at the situation of many junior E&Ps today relative to WZR and tell me that the Crest deal was not a good one in the circumstances. The company as a result has $400+m of funding and 50% of that in equity. It has imminent production and payments, wells to test, prospects to drill, rigs to drill them with and money to fund that and the necessary infrastructure. Crest's average PPS is around what; C$1.00 ? It does not look a very good deal for them at the current price does it? And, E&P companies need expert management and they need paying. Have you actually compared what WZR personnel get paid? Modest in comparison to very many. The current situation is not good ( obviously ) but it is not disastrous and we have news expected. That is not the case for many other holders of other stocks.