takeover target?, page-48

with the directors personally holding so much stock (SA holding millions etc) I'm sure Mgt would have avoided dilution if at all possible, sometimes the plans just don't work out! The last two years have been a disaster and the cash from Rayburn is gone without replenishment from successful exploration - probably a mistake with hindsight!

BUT, You know like anyone "if" STX can prove up some oily shales either from its Cooper or EFS program plenty of funding options will become available.......

I concede much ground is to be made up by STX before the Longs can recover their capital but the Cooper and EFS projects look very promising to this Long!

My objection to your post is the insinuation that the Mgt would deliberately splurge/waste money and then casually stick their hands out to S/Holders for more! My observation is the opposite, I see Mgt trying to make each project a winner but O&G is a tough business, not for the faint hearted.

The only wasted money that comes to mind these last few years was probably St Landry. It looked to me like a toss of the coin, possibly a rushed decision, that certainly came out of left field.

Similar to mrdin you make valid points and you are entitle to your opinion but I cannot agree to the tilt of your message.

Cheers

HC