Another article on Karoon, page-7

Suddenly corporate governance is the buzzword of the year.

Here is why most people have invested in this company.

They identify a good patch of earth/ water and drill.
And they appear to be very good at it.

Selling out of browse was very good and timely.
It took out a lot of uncertainty and unproductive assets
Problem is that the company sits on too much cash.
This attracts all types of economic vandals and opportunists.

The eh company is in a position every explorer dreams about:

Great assets
great oil and gas sniffers
and most importantly No cash worries.

Just drill.

But out oh the governance. Oh the nepotism.
Why do we believe these self perpetuating press releases?

thee are other companies to invest in if one yearns for governance and a steady 5% return.

yes casino bob bring it on.