Competitive situation...2 Apr 2019 11:50
I agree with comments the SP is a mess. 88E management regarding long term planning is non existent to a shambles.
Conversely, some things are, potentially, good. This month with its announcements and AGM can recover the SP in style.
Our diversification is grand ideas by inexperienced staff and management. The focus should have stayed on Central North Slopes Alaska, and less land. And to de-risk it in a more methodical and professional way.
This is why most LTH'ers invested, we have been let down.
BUT the situation could turn around in style. With conventional FO.
This region of Alaska has long standing tier 1 successful companies such as BP, ExxonMobil, Repsol and Conoco Phillips.
All these companies and more are dynamic expanding businesses. It is reasonable assumption that they are, or were, all extremely interested in our 'patch'.
We are down to a preferred supplier, not sure who. But if you look at my summary of CP last week, it is obvious that such a business would dearly want our patch, and have the budget to handle job required.
We don't know why a strong bidder would end up dragging their heels after, presumably, putting in a lot of effort to arrive at preferred bidder status.
There can be many valid reasons. But drop out at this stage seems unlikely.
DW told me last year by email reply to my questions that a Farm Out contract is simple, there are not complications in the process. Yet 4 months later, shareholders have no idea of direction.
Each person will have own personal view. My view is signing during this two week period.
Or full explanation prior to AGM.
Phrontist
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