RE:News release Q&A
2013 has been a year of collossal failures. Late 2012 we were lining up for additional JVs and set for a lot of exploration and production. It took an entire year to conclude that none of these planned things were going to happen and from what I know, I do not think we are too far off from where we stood mid-2012. Just cash burn, additional debts and lost time.
Latest newsreleases are clear as mud. I personally have no idea what things are mutually independent of each other or how much all hinged on the Exxon deal. I hope whatever the next newsrelease is, they can do an entire reset and clarify exactly where they are at and what the plans are. But that newsrelease has to happen pretty quickly because they have a lot of time to make up and they need to make it up by getting multiple tasks moving forward at the same time. If we don't have a clear picture of progress over the next couple of months, someone has to take the fall for all the 2013 failures. We are paying for the A team but are getting F results. If this is too harsh of an assessment, then they better start being much clearer as to where we stand. The market has rendered its assessment of their performance. Time for results to start outweighing intentions.
After so many years, I have never been so pessimistic. First few setbacks I notched it as them getting their feet wet and getting the lay of the land. We are way past that and I don't think the investment community is not giving them any benefit of the doubt when it comes to credibility so it is a very deep hole they have dug and there may not be much gas.