RE:RE:RE:$90 Oil ??Why?....track record; looking back at Thrace & even this ‘scavenger’ Thailand acquisition. I felt in love with the concept of the unconventional yet huge prospect in Thrace – which I still hope is still on. Here, it needs to be said that at that time Mr. S. Guest didn’t have ANY skin in the game – not confidence inspiring…no. BUT, VLE was spending other peoples’ money so that was OK, right?
Well, without dwelling too much on the past we move to this acquisition (Thailand). I feel a bit better this time around since Mr. S. Guest bought few shares on his own; I like that. BUT, paying $10 or 20 millions for 20k of oil production came with ¼ of a $billion in abandoning liabilities & quickly declining production. If deal looks ‘too good to be true’ it likely isn't. One can only hope that Wassana deep is that elephant in hiding.
Well, for me a long time shareholder Velura still needs to proof its’ abilities on the field rather then throw few slick ideas around on power point.
Yes; it’s a serious question.
G37