africa conference mon & games have started, page-25

Hi TheDhon,

I hope you are right that a better deal can be done this time round.
I would have to say that every additional attempt should be done more wisely than the first, but we have an experienced board (don't we) so I don't like paying $700k a year for practice runs.
The work commitments to the Seychelles Gov have changed so possibly the attraction is better for a farm in, but what I would be looking for is an arrangement with a farminee who believes in the acreage and will drill several wells, not one that is attracted because he only has to drill one well.
(that to me would be a good benchmark for approving some performance options)

Strauss, I will agree the Mgmt have done their job in positioning themselves to the Palta drill but for "securing" a free carry is not true. What they have is nearology and as we have seen in several east and west african drills nearology can be worth diddly squat.

And a reply to Wallygog on the other thread regarding the board, the only thing I have seen achieved over the last 6mths is instability at board level.

I am a holder of heads and tails and the last thing I want to see is no return on my investment, but I also want to see value for my investment as in the benchmark (above)and an expiry date and exercise price for the performance options.

I am an investor not a charity.