I agree NT. I have placed a huge bet on BLVN and for me its all about Etinde. Like many others I`m still underwater on this, but I don't expect the SP to fully reward longstanding shareholders.
IMO if Etinde is successful and I of course think/hope it will. KH will sell, pre-emption rights allows BLVN to test the market before he offers it back to the current partners NA & LO. We might not get the right price immediately , but we now have the balance sheet to play poker over the price.
Expenses under 10m a year Etinde in the hands of others and bonomo not generating revenue yet- can understand the market view But as long as etinde drilling goes ahead q1 2017 looks a very good risk reward, although glad this is my only high Riisk reward stock
lack of real progress and constant delays [very long delays] equals cash burn $165 mill down to less than $100 mill . No excuses left [POO , Cameroon gov etc , etc ] all gone, its down to KH and the BOD . Time is money and time they have had plenty of, how long is long term 5 years 10,15 . KH has had over 9 years. With the sale of ETINDE [ 50%] he's had the money . He's now p.......off many PI,s but why should KH worry nice salary and not accountable to PI,s.
Very sad to read about peoples dreams being shattered, we however have the best of both worlds money and cheap good business opportunities out there to benefit our future, the deal with AMINEX was a non starter as they are worth a lot more than BLVN offered; so what about this PCI deal, is this any good if so why are we not taking an interest?
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