RE:Still looking for positives!Hi nwoboy, are we the only LTHs left here?????
There are plenty of positives here. I see it this way.
- Re-entry no problems, indeed highly successful, increased pay and over double 2C.
- The sell or develop decision. They tried to choose the easy option imo and looked to flip it quick (based on genuine interest) but the other parties were taking the pi55 so we walked. Issue was we should have raised funds then, this was a very basic error of the BoD ie; staying capitalised. I think they thought a sale was nailed on.
- Cavanagh went at this point, he had already gone from Aldrin a few months before, so i feel there may have been some major disagreements on direction re; trying to sell or fallout from failure to sell, between him and More of a personal nature also maybe?
- No-one with any experience left to run an oil company, so things are moving to Nigeria with our Chairman with new management (takes time) and then hopefully closure of PP and on from there.
Now this is a rosy scenario i agree, but one based on having a real and pretty decent development asset in hand, why would it then not be developed, after $30m proved it?
Alternative scenario:
Management intend to spend $30m of Canadian investment money to prove the field concept, then they run the company into the ground, do not raise funds, so it folds. They look to then 'pick up' the assets at a later date, presumably they would go back to Govt if development plan milestones not achieved. Back out in a later license round, proven, valuable asset stolen.
Now these are just scenarios/opinions and have no basis in fact, due the fact that IR do not tell us anything of value. I do not think IR knows the score anyway, i get the feeling Brian's "cheese has been left hanging in the wind" a while now.
All good fun. Mark.