RE:Todays AGM I want to express my appreciation for posting the video from what was referred to as a “shareholders’ meeting,” though it felt more like an FYI session. In reality, unless you’re a major shareholder, these meetings often provide little insight beyond the official press releases. This year’s annual meeting was no different—very conservative and tight-lipped.
I can sense the frustration among fellow shareholders, and I share that sentiment, especially given the events of recent years. There’s no doubt that something is happening behind the scenes with management and the license approval process, though the specifics remain unclear. We can all speculate, but what stands out to me is the situation with EcoAtlantic Oil and Gas. They’ve been partners with Tullow, who has since stepped back, yet still retain their interest in those block. It’s perplexing that the government seems content with them holding the concessions without any immediate drilling plans.
I don’t want to delve into theories, but it’s clear that the port has become the priority now, as mentioned in the meeting. Whether the concession will be extended or any new conditions will be granted is a big question. As shareholders, we’re likely to see further dilution of our value, especially if more funds need to be raised for the port or other activities within the exploration block. It’s certainly not an encouraging situation.