RE:RE:RE:All I can hear It has now been eight years since I bought into this story. I have traded it a few times, but for the most part have maintained my position.
The story has changed a few times. Sometimes it’s Libya, other times it’s Algeria and other regions of North Africa. If it is Libya I am thinking that they are waiting on the Canadian embassy to reopen. There have been talks earlier this spring.
Total and Marathon announced a 450 million dollar deal earlier this year in Libya. NOC in Libya retorted with “ not so fast ”. They said there were many things to discuss before that deal would be approved. It’s not going to be easy and maybe that explains the delay, but I’m only speculating because us shareholders have nothing else to go on.
I was hoping that management , most from First Calgary Petroleum, would be able to put something together. After looking back at the bitter fight between management of First Calgary and dissident shareholders and how that all ended up maybe I should have stayed away.
Really this should have been a private co. , but then that would have caved in on them a long time ago. There is a total disregard to shareholders. Information is week at best, other than financings and annual filings.
I keep a close eye on insider activity, so far no one is jumping ship yet. The company’s address is still listed as a home address on most sites, a few have the address of a law firm office also in Calgary.
As I have stated a few times before this is just an expensive lottery ticket. The story is getting old and so is the management team and most shareholders.
Fingers crossed.