where is peter landau?, page-15

Well 2187, I'm here because RRL/RRS have an interest in a few licences with great potential and there's a limited downside (not as limited as the UK bulletin boards would have you believe however) because of the Texas asset.

That doesn't make PL a good director. There's potential here, but because of his inaction with the licences, very little of it is realised in the current share price. Texas is a relatively small play in comparison to Georgia, Puntland, and even Trinidad, but yet it makes up about 70% of the current share price value.

Why is a 50% share of 2 billion potential barrels in Georgia, and 20% of a potential 20 billion barrels in Puntland valued at only ?32m by the markets? Those same markets which even as I type this, have companies with market caps spanning into the hundreds of millions despite having no oil discoveries or production of any sort.

The only logical explanation are investors have no faith in the current management, and have little belief that they will carry out their promises.

And based on the last few years, who can blame the investors for thinking this?