does lundin petrolium have success rate ?, page-7

The blame for the poor sp has to be laid squarely on the heads of the board and management. Look at the buy/sell ratio. No interest whatsoever. And when interest returns you can guarantee it will only be short term traders looking to scalp a few points. They have failed miserably in one their main areas, that is to bring in more substantial and long term holders onto the register and a lot of that has to do with Nido not proving itself to the market.
1. Not being able to find partners for the psc's.2 Not proving itself to be able to do anything off their own back, ie: As operator. The case in point being Baragatan where the drill has been delayed yet another year and it seems only so they can find a partner to do the drilling for them. If you can't do the job designated, move on and find someone who can. As insaf says, no one believes them and their time lines. It was always like that and hasn't changed under Phil Byrnes.
This from 5/12/2013 interview.

" On current estimates we have until mid-January to make a decision with
respect to increasing our equity in the Baronang PSC in the first instance."

This from 8/01/2014

"Nido is also pleased to advise that the Company has secured an extension of time within which it
can elect to increase its equity in each of the Baronang, Cakalang and Gurita Production Sharing
Contracts. The Company can now exercise its option to increase its equity at any time no later than
on completion of the running of the 13 3/8” casing point for the first well to be drilled in each of the
Contract Areas."

So Phil knew a good month ago why they didn't need to make a equity decision until late in the drill but didn't think that it was necessary to explain that to shareholders or the market. Am I missing something or is this s breach of a directors disclosure duties? Clutching at straws probably.

They puffed their chests out last year when winning the votes at the agm and egm, but in reality it wasn't by much if you took away the sub holder. He may of given them some grace to see if they could get the job done but I sincerely doubt Mr Yenbamroong will offer them the same courtesy this time around. I hope he has someone lined up already to take the reins. All IMO only of course.