RE: Deltic30 Apr 2024 20:10
Today’s fall in price is caused by people selling because they no longer believe in JOG. Is there any hope? Herr Benitez, the so called CEO of the company is apparently happy with the status quo; he’s on a fat salary and bonus for doing SFA. He’s no longer needed, time to give him the heave ho. Pre-farmout, the ‘market’ would have interpreted the departure of the CEO as a negative sign. Now, his removal and the installation of an experienced oil man, one who has brought a field on line, as boss would be well received. Doing nothing, keeping him there, while the share price languishes (declines) only adds to the negative feelings about the company which are attributed mainly to ‘unfavourable politics/economics’.
The fundamentals are good. There is proven oil which can be produced economically and, despite idiot taxation, it WILL be profitable. Come on Herr Benitez, get out there and tell the story , OR Board, remove him and get a proper oil man who can do the job.