love fest, page-20

(reposted)

Hi Mowibble,

It seems like a boulevard of broken dreams to me...

They complete a Feasibility Study on Khnaiguyiah only to have their JV partners refuse to hand the lease over and sue them (you could say this wasn't their fault, but I would argue different, if you deal with the devil, then you take what the devil deals).
They announce they are dealing with Mawarid on a toll treatment plan - for no outcome
They announce they are in cash merger discussions - for no outcome
They do a JV on an exploration licence application not yet granted (in Saudi an exploration licence application is worthless)
They then do a JV on Khnaiguyiah, a project they do not even hold and are being sued by the owners.
They announce scoping study results on the Oman project in April at a 2Mpta process rate and say they are commencing a Feasibility Study, then 4 months later announce they are doing a Feasibility Study on a 800ktpa process rate, which will be done in 4 months (very unlikely IMO in this timeframe if to JORC standard, noting that there is no measured resource yet and half the resource is inferred, therefore drilling is likely to be required).

What a saga.

It is not a good look to have deals that continually end up in the mire, and you should not announce to the ASX a potential deal unless you are confident it is going the delivered...?

So is this a bunch of competent guys looking incompetent because of the miserable location where they are dealing, and the predominance of camels? or the alternative, whatever that is.

Gosouth