Management Simply the Worst!! They spent more than $75 million on the asset and wants to sell it for $42 million.
A solid management would have drilled this hole since last year. This is one of the shallowest reservoir targets in Kurdistan and in fact in the world with oil being targeted at 1600 m. Nearby lease by WZR had shown the same target formation to be viable and prolific as WZR tested 9000 barels per day on it.
I am simply shocked with the classic poor execution of this play.
Where is Taxdemicco that keep saying the Fking Billionaires that are in FORBES would bail out the company?
How can Stan Bhart, LFD chairman agree to such a low ball offer ad threatening investors that they would lose all if they fail to accept the offer.