vicksburg well, page-30

pcaruso: I admire your faith or loyalty or whatever it is, but at what point do you start doubting someone? Sure, Yeager might have claimed he would double production and share price within 12 months, but he is a human being, he is fallible, and it's not in any way unusual for company directors not to keep their promises, meet their targets or otherwise be correct.

We're now more than half way through that 12 months. The share price and production are both much lower, not higher. One would expect that if the production rate was to double in 12 months, there would already be an increase after 6 months. Surely even the most loyal, loving, faithful, true believing, wide-eyed holder must by now be thinking that doubling the production is a goal which is pretty much impossible to reach. It's not like the number of rigs is about to explode or they've just found a way to supercharge them or, well, there hasn't been any improvement I can see.

If after 11 months there is a further drop in both production and price, will you still be expecting your 65-70c share price? If it's 6c and even lower production after 11 months and three weeks will you be sure of a miracle of tripling or quadrupling the production and a 10 bagger within the following week? Analyse it however you like, but I think more than half way towards a one year goal is a reasonable time to expect to see improvement, and certainly to be worried if things are moving in the opposite direction.

I just can't understand why Yeager is seen as so powerful or whatever it is folks see in him. He is just a person. For all he has been paid he has simply set out a basic plan (if you can even call it that) which is basically redundant other than to hire some more people. Without totally changing the direction of the company, I can't see how production can double (or even increase in anything other than very short term, and then only slightly), and even with a massive change of direction I can't see how it could be possible, since the amount of money available doesn't allow for buying an existing producing field of that size, and to develop new land would take more than six months.

If you can see how it could be possible by any stretch of the imagination I'd love to hear about it, but if it's just because someone justifying his job promised it and after more than half way to the deadline he has moved in the opposite direction, I'd suggest questioning your faith.