They are not majority shareholders. The board were fired due to incompetence. They will be announcing a strategy probably, but not over the festive season. I am holding a substantial % and still hopeful. Maybe stupidly.!
So, are you saying stand still and cash in?
This is great news; new plays have been identified and 3d seismic is available. The COS is high, and this is an exploration company after all. We are all waiting for the forward strategy but cashing in now is not for me. Maybe for someone looking to make a quick buck?
I think you could be right. Also why announce it six months to a year before you intend to do it? They could easily support the share price as it would cost little. However the lower the SP gets the more they will be able to buy back. They may take the company private and screw us all.
Thanks for not posting. While factually you are correct you are overly negative. I think as an E company you have to drill for new reserves. While hugely disappointed I still have faith. 12 more wells and 2 exploration wells.