RE: Enough BS lets hear some real newsGood post Manifest30. I consider myself to be a small shareholder of lfd (hold 400,000 shares) and have been deeply disappointed and frustrated with the leadership of this company. I bought into lfd after reviewing their prospect, but it became very clear that what management was communicating to shareholders versus their actual intent were two different things. Management was running this concurrent with vst and did not actually plan on doing anything with lfd until vst was done and over with.
Management has been less than transparent on what is happening with the company and what their actual plans are. They have not communicated with shareholders since June. Investors who have called or e-mailed the company have been told that there will be an update from the company in the next 30 days for the last 5 months. There is no doubt if lfd had raised sufficient funds and actually planned for drilling this prospect, the sp would react very differently than it has so far. However, at this point in time, they have no money and their exploration period is coming to an end mid 2012 and their lease has yet to see any drilling.
The Exxon Mobil news was definitely great and a good thing for the KRG. However, if we learned anything from the political mess in Iraq, it does not mean that there will be any agreement with the central government just because Exxon signed Kurd contracts. It could actually further complicate matters. We had many posters assume this was the end of all issues between KRG and Central government, far from it. Until the actual hydrocarbon law is signed and put into law, it is hard to get excited by anything else as we have seen this movie before and been disappointed with the lack of progress and the constant bickering.