RE: BLM23 Jan 2022 00:28
Thanks Rabito. In my 43 years experience as an engineer I have observed almost invariably when a job is rushed or the time to do it is compressed by circumstances, mistakes are made. Delays to the spud will always cause knock on effects, costs, that may not be specifically be costed as delays, but for me, the root cause of the cost WAS the delay, directly or indirectly. Playing catch up for the duration of the project to finish on time was inevitably the case. I don't know if I'm right but neither do you know that I'm wrong. I'd put money on my experience, albeit not oil related. These are small inflexible teams of people, who are asked to jump through hoops and do so, sometimes tiredness sets in and as rfarfa says we haven't been told the official reason. Thankfully safety, environmental, social aspects were respected.
Management know that we have been watching them like a hawk, as all shareholders should do with all companies. The question of trust then is down to each shareholder to decide for themselves what to believe, accept or indeed question the bod directly.
Safety considerations, legal commitments, environmental considerations are ALL far more likely to have been additional reasons for added costs rather than the fantasy assertions (libellous?) of some on here who think or point the finger at certain ' inner circle' contractors that 'may' have creamed the curve before the shareholders eyes. What a load of garbage. They would not dare do things like that in full view of onlookers. The whole discussion is designed to make you jump ship and join the NN.
And they think I have ludicrous ideas! Dear me.
As for DW selling his shares. If I left a company and had as many shares as DW, damn right I'd sell some after leaving (after all, most ppl leave because they don't want to stay!!). He still has a massive amount of skin in the game as he knows the potential upside for 88e better than most. He sold 88e shares just the same as Farallon sold the NN. Derisking perhaps? When you are rich, you do that. thats why you are rich. We should all do that. DW also knows what potential is still in the Icewine acreage but also knew, eventually, that certain experts fed him a bum steer in the 'unconventional' fad era. The 88E bod now know (hope) that after PANR's current winter campaign, the implications for capitalising on their success by the obvious overlap will help the business. It certainly won't harm us., regardless of whether we have 10, 15 or 20% or more of the overall discovered field/s. This is why the Reddit, Twitter, Stocktwits are excited.
Anyways. The wife's escaped with a mild dose of Covid so we can thank the Lord for vaccines. Hope you have all steered through this crisis as well as can be expected.
Take care
GS
Sign In
Follow the stocks
