Tshirt, I hope you are not putting all your faith on Paris Valley? As good a project this is going to be, management have not delivered on this project since as far back as I can see in 2009.
In 2009, Paris Valley was all the rage; many investors were very excited, (Like Big Kev).
Let’s think about this rationally. The question I ask is, "How long does it take to work towards and bring a single project to the drilling stage and begin producing Oil, when you have previous history that states this field has flowed oil previously"?
The next question I would ask myself is "How many investors have died since 2009"? For all we know Big Kev could have been excited about Paris Valley. What we do know is that there are lots of people that get very excited at the mention of Paris! lol
What we do know is the Year now is 2013. Since 2009, Many millions of people have passed away waiting for Paris and many millions of dollars have been spent on chasing Paris.
Every day that passes and we have to regurgitate old news to keep the flicker of light on in living hope that this nightmare will end soon one way or the other.
While we as shareholders contemplate what the hell is going on, the managers at the last AGM, clearly went on record and stated that they will Endeavour to keep up regular market updates.
How much oil are they currently producing? Have any more wells been brought online at San Ardo? Why don't they sell Paloma Oil field to recoup some money if unable to find partner? How are they addressing the cash burn rate? Is management taking the giant steps to reduce wasteful spending in their business (overheads) expenditure?
Another way to look at Paris Valley. In 2009 to now, how many students around Australia have completed their Degree or Double degree in Business?
Some very smart students are ready to challenge the market place with their knowledge.
I used this as an example of what can be achieved in 4 1/2 years.
We can’t......don't get me started.
All I can say is Go the Eagles this weekend. Maybe they can break the Duck.
Good Luck
NEN Price at posting:
20.0¢ Sentiment: None Disclosure: Held
