well of course no one expects then to drill for free, that's why the burn rate, charges versus the market rate all come into play, Are investors getting a good deal. It doesn't read that way to me when you look at the spend relative to the activity in Q1 (J to M) LO's reporting period.
What happens when the accounts are published and liabilities considerably exceed cash and revenue, with oil some way of the 30th June.
No one here expects LO to be drilling for free? Why you always make a big deal out of it.... They have given us credit, we have to pay. If the wells come in ahead of expectation then all good. If not we have the money and we move onto the next one.
Personally am happy we are doing what I bought in for all those years ago. Drilling with decent kit, and pushing ahead with waterflood.
As reported by LO at the end of April....and what do we have to show....one big bill due.....i rest my case #omalegend.
"The first quarter of 2016 the company achieved operating income of 158 million yuan, compared to the 50.45% increase over the same period last year, primarily Trinidad Drilling Company RRDSL, Korla Huapeng other companies included in the consolidation scope, due to business expansion."
Guesswork pure and simple - I am happy with my holding and prepared to wait.
I am still confused as to why you are still posting given you sold out and think we are going down the river.
Why would the financially prudent BOD squander money if they were not confident that the drill would yield positive results if the original drill was poor or marginal? Please don't post some tripe about working in the interest of LO.
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