RE: no one is jumping ship... Both of the departing people were MM's, and while I believe in his vision for Namibia, any new CEO should be allowed the opportunity to replace such persons.
As for the CFO leaving, most self-respecting US CEOs change CFOs within a year of assuming the position. Two months may be fast, but with Polvo and other things happening, it is probably better to move sooner than later. I am not surprised to see him leave, and in fact, I would have been surprised to see him stay. Accordingly, this does not smell like rats leaving a sinking ship – smells like SOP.
On the IR person, all I can say is that it’s about time. I believe that she has done a poor job of managing expectations. Let’s hope the next one can get the ear of the right analysts.
Like the rest of you, I am disappointed that HRT-11 did not have a cap to hold in oil it generated. Looking at the Somiloes map, I cannot fault MM for anticipating liquid hydrocarbons/oil as HRT moves closer to the PB positions, but even in South Texas, our landowners are sometimes surprised when a dry hole happens in the middle of a gigantic trend.
That said, while we would all love oil in the Somiloes, the Brazilian government might actually love to convert the gas to domestic usage. Fertilizer plants are not new science, and as a world breadbasket, Brazil could certainly use some.
GLTA