Kevin Foo may not be everyone's cup of tea however at least he is moving the Company along and providing the shareholders with a revenue stream.
Our Kevin on the other hand was lucky that Lukoil came in at the 11th hour and invested $250m in BLVN, I am led to believe that the offer came out of the Blue and was not down to KH's hard work.
Remember this is the same KH who would not show the books to Dragon Oil as he knew that if they decided to take over the Company he would be out of a job and his $1m+ a year salary (I use the term Salary loosely as he doesn't work that hard for it) would end.
Come on C.O pull your socks up and launch a take over so we can rid the Company of the parasitical BOD we currently have.
""".... Our market assessment indicates a growing demand for our gas, for both thermal and grid power markets. The Matanda acquisition was a major extension of our influence in the region, whilst the drilling programme is expected to unlock new reserves for sale to customers. The preparation for drilling at our existing Logbaba production site is complete, and spudding is expected shortly. Expansion work on the Bonaberi pipeline is on track, and with Gas Sales Agreements in place, we expect to deliver to these new customers before the end of the year. As we deliver on our expansion targets, we will look to increase the process plant's capacity....""""
If good things happen to those who wait then we LTHs must be fffing saints....
"...In theory, the ability to borrow for the long term at ultra-low rates should be providing an incentive for US businesses to invest. That, though, is not what is happening. Rather than invest, corporations are borrowing money in order to buy back their own shares. This makes sense because, as Charles Dumas of Lombard Street Research has pointed out, the cost of money is below the yield on stocks.
But it also means the Fed has created the perfect conditions for a massive stock market bubble, which will pop the moment that interest rates start to rise. The US, courtesy of the dearth of investment, has weak productivity and inflation will start to pick up once growth accelerates to much more than 2%..."
I for one am sick and tired of financing the BOD's lifestyles while PI are fed lines that include "imminent", "near future", "on-going" blah blah blah. I've listened to that rhetoric for years in their RNS releases. The sooner they are out of this cash cow the better. I look forward to seeing how they manage to finance their lifestyles out of Bow so this company can finally get to where it's trying to get to! Hopefully it will be bye bye Kevin :-)
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