RE: CH used to often say that there was quite a lot of news flow to come16 Jun 2025 10:57
Think it was very justifiable.
After such a forced and prolonged wait, I personally would have expected a lot more by this point. I work in an industry where we plan, even if we don’t have all the information at the outset, we prepare various scenarios: if A occurs, this is the course of action; if B occurs, then we take a different route.
This company seems incapable of planning anything and simply reacts to whatever happens.
But I now think I’ve viewed this company all wrong. I invested many years ago because the investment case was appealing. The idea was that we’d invest in some non-ops, and the income from those would help fund the development of our own acreage without constantly tapping shareholders and causing dilution.
Then I thought that once one well was drilled and oil was found, it would come online and generate revenue to fund the next drill. I remember back when the “Cheshire Cat” used to do presentations, and after the first drill, instead of presenting a production plan, he just waffled on about 2P reserves and how that was good, and that we would drill again.
Three wells, three oil/gas finds yet still no production, or even a plan to bring them into production.
Are the non-ops funding the Paradox development, or are they just enriching the board through wages? Does the CEO care about the share price? Because he’s done absolutely nothing to improve it. It’s now been 40 days since the flow test results were released, and the share price is 26% lower than before those supposedly “amazing” results. What have we heard from the CEO about this?
But don’t worry about him over the last 40 days, he’s earned $126,462, based on the figures in the most recent annual report!