frustrating stock..., page-13

Zinc,

You are absolutely correct. The 500 bopd was a shock, very poorly handled, and threatens trust and confidence in the company.

Unfortunately you are right about the AED factor, although I was always an AED sceptic. Too much wrong about a 2 man band (a financier and a geologist with a chequered history) setting about delivering an offshore production field without a significant inhouse team, finding zillions of bbls of virtual oil others had missed, then hyping it further into the 3P area. Outcome no suprise to me. Likewise smartyboys AZA trying BMG on the cheap without a significant inhouse team, consequently not designing for summer air temps, undersizing gas handling etc.

Beggs & co are industry professionals, Beggs appears to have built an appropriate team, and their approach/business strategy appears sound. Huge contrast, but market may not recognise it, and the 500 bopd gives the market some justification to be sceptical.

EL