RE:RE:Long term focusMargin321 wrote: I like Paul Baay but still have those Lightstream Blues (PTSD lasts a long time) and do not fully trust Wright. Did it not annoy you that Lightstream went BK (after encouraging words about cash flow easily covering debt service) and then came out of BK by taking it private as Ridgeback Resources with same management. Wright and friends stayed whole but shareholders got zero. That is business but it is the only time I know where courts let the officers keep the company and just cancel out the shareholders. I would like a new COB (maybe Paul) as it still irritates me when Wright gets his new share grants.
Anyway Paul is a very good leader who has built a good culture in this company. And XM is a serious geologist who knows more about Trinidad rocks than anyone and also is a wonderful teacher who gives a lot to his students and to Trinidad in general. I am happy to be invested here since the beginning. I do not have a 20 cent basis. The shares I got from the Petrobank shell posted to my account on 1/11/2013 at $2.06. That was based on a business plan of ramping up production on the legacy lands. There is so much more to story now. TXP got the lease on the Ortoire block in 2014 and spent 5 years studying it before embarking on the first 5 well exploration program. Results have been spectacular. And more to come. I guess if they can spend five years studying the block, they can spend a couple years bringing on first new gas find on-shore Trinidad in more than 40 years. Especially as oil production from Royston will be ramping at same time. And new discoveries from Royston Deep and maybe even Kraken will be adding reserves and production steadily over next several years. Seems like we are standing still (especially Coho experience) but things are actually moving very fast.
Parallel experience with you and Davidmorrill. Made out like a bandit on Petrobank and Petrominerales, then kept averaging down on Lightspeed, held on for a couple of years but was totally wiped out. Can't forgive that on the other hand although morally corrupt DW was not stupid so I tiptoed into Touchstone (ACB 22c) and recovered my losses that way. PTSD would be a good symbol for a Canadian junior helped by a spineless or bought Canadian Security exchanges.
Appreciate your sane commentary over the years Margin.
Coincidentally I also own Alvopetrol but nowhere near Davidmorrill's entry point.