I concur with the opinions raised in Adriano's last post.
Notwithstanding, how familiar we might be with his posts in the event that U3 was a gusher is not such a mystery.
For now it seems LT holders like myself must accept the real potential that management appears to have only anticipated a gusher hence their need (on more than one occasion)to defend the shelving of the Crusader rig because according to them it was, "financially and operationally prudent".
What the last report fails to identify is whether in the first instance it was "financially and operationally prudent" and/or interests of the SP (and thereby shareholders) to delay the entire 2013 drilling program for the procurement of a purpose built rig so that only one well could be drilled in the 2014 calendar year before being "demobilised"!!
AGM attendees and readers of various BRU reports would be familiar with that fancy funnel image of all the drilling prospects being part of the 2014 and beyond drill program. All opportunities that were to fall like dominoes pursuant to the procurement of the new rig.
I am so disappointed with management because they have said one thing and without warning done another.
The above and the languishing SP are the most difficult things to erase from my critical assessment of management right now because regardless of the "substantial" potential of the company's "forward program", if management aren't right for the job the full value of the company will never be realised. Look at Newcrest as a case in point.
Regards
JC
BRU Price at posting:
$1.17 Sentiment: LT Buy Disclosure: Held
