RE: We will know soon18 Apr 2024 09:56
Sharebel, you say "2nd commerical oil discovery", please point to me where it says it is a "commercial oil discovery" anywhere? It states "Commercialisation options to be advanced in parallel, including farm-out to a strategic development partner and/or early, capital-lite production, given proximate infrastructure advantages (Hickory-1 next to Dalton Highway and Trans-Alaskan Pipeline System (TAPS))." which is a totally different scenario.
Paul Basinski let slip in 2016 that they know they have no prospect of commercial oil in North Alaska as the majors have already crawled all over it and bled it dry. There's nothing there. A thimble full, or rather a glass test tube with some black treacle in is nothing, how do you know it's even real? this is the problem when everyone wants to believe the fairytale and doesn't start asking questions about the actual truth. How much money is it going to cost for them to produce nothing? How many more shares will there be flooded on to the open market? It's another aim failure that's producing fat cat salaries all for very little, or as someone else very succinctly put it, it's a lifestyle company, and that perfectly sums it up. 8 years and nothing and yet people still suck in newbie investors who won't understand the history.
My views, but people need to start asking proper questions of the company, what further expenditure do they envisage over the next 1-5 years (for producing nothing), how many more shares are they going to flood on to the market, diluting existing shareholders to the very bottom of nothing, why don't the directors give up their salaries in lieu of shares instead to show solidarity with shareholders? it's a never ending piece of string this one, just like all the others that have de-listed in the end!
My views of course, but I was in this shambolic share long ago and glad I got out when I did.