Ann: OEL: Winx-1 Drilling Update, page-156

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JB27

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14/03/19

10:37

Post #: 37757667
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Originally posted by stradzz: ↑

I don’t believe we will get a “really really strong farm out deal”. I don’t think we’ll even get a good farm out deal. Its taking far too long. Also we are now in a weak position because of the winx failure. We have six billion plus shares, pitiful share price and not enough capital to fund anything apart from the extravagant lifestyle of our management.
Potential Majors will be thinking twice about investing in us when they are already making large safe profits elsewhere. Potential minors will be asking themselves if they really want to through a saddle on this one legged pony. Is our 3d trustworthy? Do our management really know what they are doing?
If i was Dave Wall i would do one of two things:
1.Sell the company outright as is, or
2. Raise some money and drill one of the stacked systems by ourselves.
If we get a farm out and its not the miracle save, our share price will go down. Add to that another year of waiting for another drill to happen will see the price decline further. With management sitting around for a year with nothing else to do then “consolidation” will show its ugly head. The company will have to do this to be able to substain their ongoing pay cheques.
So in short don’t be reliant on a farm out being a share price saviour.

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pretty much my concerns exactly. starting to wonder if I just cop this loss and use it to offset some nice gains elsewhere in this financial year.

88E Price at posting: 1.5¢ Sentiment: None Disclosure: Held
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Ann: OEL: Winx-1 Drilling Update, page-156

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