OANDO ENERGY RESOURCES INC WTS T.OER.W

Bharti Resigns as Director

[Greenchips]

Stan and Tony Henshaw resign, Bill Watson of Calgary joins, OER now has a majority of independent directors.

[BlindBat_1]

Very positive in my book that Bharti left. Now if only they could issue a secondary placement to raise cash and issue more share so that the stock becomes more liquid - I would jump in and no doubt many other people. Patiently awaiting their financial report however to get the full picture....

[Greenchips]

Agree totally with you, the conundrum is that they are only trading at a fraction of what they should be if compared to Mart. It looks as if the stock is consolidating well in this range, a small issue at $1.50 early in the new year would not surprise me assuming, as you say, that the financial report is positive.

[bobvee15]

It  appears management actually reads these message boards. Its kind of eerie I am getting my way lately. The move definitely was a big step in the right direction of what I see as an encumbrance. Distancing themselves from Bharti is the first step to credibility.  I guess Bharti's impact won't be really known until the company merges and perhaps subtle hints in executive

[Greenchips]

Agree that fat dividend helps the share price short term but sustaining it puts a lot of financial pressure on MMT and restricts cash for future growth, also begs the question of why they would not keep more of the cash and find more deals like OML 56, surely a much smaller dividend would be more than adequate.

[bobvee15]

Mart can get away with using this strategy of just keeping enough cash for the new pipeline because Umusadege has twice as much reserves as reported and there is a good chance it is  three or more times higher.  When your wells show no sign of depletion there has to be a source for this oil. IMO the 20 cent requirement a year will be chicken feed once they have 2 pipelines running. I