an opinion ..., page-6

BG - thanks for the great post you put together. It must have taken a lot of thought and effort.
I am always willing to contribute to discussion. So here goes my 2 cents worth for now (excuse the sarcasm at times!!!)...

I agree with your general thoughts on Management and Assets and your specific comments on Mr Whitby and his chosen team.
I also take your subtle point on 'trust' and putting trust in good management and letting them get on with the job - the Cool Energy deal is an example of where trust of shareholders will be tested in a deal that is not initially fully clear as to the benefits. In my case it was more an 'expectation' built up of Galoc being the next duck to be put into line and frustration at how long this has taken on my time scale. I have been a shareholder a lot longer than most around here, that seem to have only bought in over the past 6 months and some think that is a long time!!

I don't want to say any more on the Cool deal - I trust their good management decision that it is a strategic initiative and things will likely become clearer later to me.

You reach the same conclusion as myself on valuations - that is - when Galoc is developed then the share price will be many multiples of the current price - just for Galoc. Takes some guts to put up estimates - hell what if you're wrong - lol!

I wont publish my estimates any more - what would I know about the oil sector? I only looked at potential revenues, operating margins, profits, pe ratios, market cap, trends, sentiment etc... compared these things to their producing peers to get a rough estimate - I haven't passed the oilers terminology test yet so dabbling where I shouldn't be :-)
Imagine applying a few pe's to an oiler as part of an estimation range - how silly are we - lol! Lets just throw our arms in the air and shout "It can't be estimated yet - not enough facts!!!!!". Lets just wait until a month before they drill Galoc and buy in at 15 to 20 cents and sell out before spud for a few crumbs - now there is a great strategy for building wealth ;-)

If Galoc is developed successfully and add to this the potential of the other assets with Galoc cashflow and profits and that will make an interesting 3 to 5 years im my opinion.

If it doesn't happen...? Well - all good fun anyway - taking a risk doesn't mean you can't still have a stop loss.