RE: Company Valuation12 Mar 2025 14:44
GarryGraham - I’ve always been as supportive of the company as I can as there’s an over abundance of trolls on this share, many of whom spread misinformation, but you’re confused about by stance on the drill.
I decided not to participate in the Perseverance drill as it didn’t suit my risk appetite at that time. Prior to the drill I frequently referred to the COS, as published by the company. Even though I wouldn’t benefit I genuinely wished shareholders well.
I could see that, pre drill, finances were extremely tight and there appeared to be no safety margin. This was worsened by the last minute political challenge. The last minute borrowing was at lender of last resort rates!
Having said that the company was called Bahamas Petroleum for a reason and there were many shareholders who encouraged the company to pretty much pursue the drill and do whatever was necessary to achieve it.
If the drill had been successful all the questionable aspects would have been swiftly forgotten and the BOD would have been heralded more than Eytan is currently!
When the drill failed I genuinely believed the company would go under - the mystique and complications of the Trinidad assets IMO saved the company along with the willingness of the Aussies to gamble new money.
Shares are, however, all about the future prospects, rather than the past, although we all learn from history. THE FUTURES BRIGHT - it’s the Conjugate ORANGE Basin!