RE:RE:Drilling So no one thinks I am blindly optimistic - this Burmi situation is a bad look. I absolutely believe it is a result of him owning as much LME as he can (a very good thing) and running into a financial situation that he needed to deal with (not great but understandable). One layer deeper and you could guess that he thought a deal would be done by now - something I think we can all appreciate. Add on top messy filing and messaging - it's a bad look - and maybe even a bad thing - but I personally don't think it is having a material impact on what is important - getting a deal done.
We have been told over and over and over that LME's top priority is selling - and that due to regulations (and their style) they can't and won't tell us anything about that process. They can't and won't tell us anything about that process. They can't and won't tell us anything about that process.
That is the problem here - we own shares in a public company who cannot and will not report to us on the progress they are making against their top priority.
The point has been made - sell or drill big.
They announce a 'drill small' and no one takes comfort that this is evidence of the sell plan. It's not a cause and effect relationship - but it is logical and consistent.
You don't have to trust them - they have announced concrete things about their sale process - USCG - 43-101 - so unless you think they are lying (in which case you should just sell) you should take the evidence as evidence - and go back to the fact that they can't and won't report to us on progress of a deal.
it's maddening for sure - and hard to deal with at times - but it doesn't mean everything is bad - or fake - it just means they can't and won't tell us.
Until they have to - and do.
And then we vote and get some kind of rich.