jr it certainly seems like being backed into a corner with POO contributing to lack of cashflow along with other factors like operator control, but someone knows that something is GOOD otherwise why buy 250mil of dead end stock, IMHO there is more to all this than meets the eye.
Thomas is a link to Giant which for me neither has contributed much that we know about thus far, but opportunity and motive is in the mix and he's no numpty, also the larger holders Rita and Ron etc would have been hugely diluted by the issue so it will have been well considered,Thomas although a relative newby is now holding one third of Rita's stock for doing not a lot hmmm.
Hargreaves Landsdown (that's us) are the largest nominee account at 8% I wonder what that actually means in terms of information flow if that was to be one large shareholder probably a seat on the BOD.
Burnell ?? gone ? or still a large shareholder at one time he had 16.1 million shares only 1.5% and not a director so no need to declare anything would have been "in the know" also no numpty, and I don't see that lot being sold at a large loss anytime soon.
The 46million debacle what was the real story with that other than to fire Sanlam out the door.
Shimanek did we really spend $175,000 on a duster or save $400,000 by not completing it, the budgeted cost was $700,000, why did we not do Wog first ? Woger appears to have been binned (permits expired).
The potential for the Sympson wells has already been mooted at at circa 100-130 BOED so circa $2m revenue @ $45. lets hope its worth waiting for .
jr " I'm starting to get a bit nervous" LOL we have put our trust in this BOD for long enough now don't waver keep calm and carry on !!! IMHO oh and stay away from the sell button.
Personally I find the new website harder to navigate but thought it was just me. As for going private that's a no from me too. Putting the 250m holder question to the side, SOS is the only one in a position to do this to protect his interest. How does that impact on other shareholders inc Rita and rest of bod.
Rita and co have delivered returns in the past but the poo is out of they're control. Combined with the going concern note in the accounts, the time being taken to get sympson wells into production ( bod can't control that) and ongoing poo volatility, being honest, I'm starting to get a bit nervous.
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