RE: weather30 Oct 2019 13:08
Sandydune-
Thank you for your kind note. First, let me say, every well is speculative due to the nature of drilling, i.e. being very mechanical (things break, get stuck, etc.)and geology having plenty of qwerks. As to your question regarding expectations is also speculative. Origin is in this venture to make a good investment for its shareholders. Origin has agreed to spend ~$200 million under the FOG agreement. They probably are expecting a good return, which in my experience would be a minimum of 3-4 times with hopes of 10 x or more their investment. If we are fortunate to get something in this range, I would hope to see a price over $0.50 and growing as additional drilling takes price with hoped for good results. The reason for being cautious is Australia is a new investment frontier and the traditionalists have a strong right to their land and over time with will probably be more clearly worked out through legislation. Think about the good example Alaska set in recognizing the Inuit early in that program, as well as other countries with sovereign funds. They are not all perfect, but generally provide benefit to those who previously might have been left in the cold.
As an aside and since my gut tells me POQ either reads this board or hears what is being said, is that someone explain, FOG would benefit by being more open with all shareholders, as is a shareholder's right. Constructive, informed advice, sometimes contrary to what one would like to hear, can be beneficial. FOG shareholders have been overly influenced by his positive comments. Let's hope our board of directors is learning through missteps that could have been not nearing so dilutive.
Sign In
Follow the stocks
