In the eye of hurricane

Dear friends,

I imagine most of you are living similar stress like I'm experiencing.
Not easy answer and even "questions", not easy make proper ones.

When we all bought this share, ,2,3 years ago our target was make a little bit better than the maret and for sure noody bought thinking to make simple 10 oe 20%.

If in the past we could blame in part the weakness of the board for poor market results,to blame now is absolutely unfair.

We could have the king or the pope on the board and it should be irrelevant .The market is going down and down and is not relevant who is the captain of the boat.

Our concern for sure is... And how far can we go ? How long we need to hold to at least see the botton and reverse, and finally do we have chances to recover our loss ?

Obviously I'm not crazy to forecast such things, but something I can say... We are in the eye of hurricane and probably this will not disappear as a magic... The pain will continue...

I saw yesterday on Tv an interesting debate and the speaker told his personal theory that the King of Saudi Arabia is "testing" the market to see how far can go and at which level companies stop produce and or stop investment in new discoveries...
I think his answer is much more simple..
That will happen at same level of break even and each company have his own.. The expensive oil producers for sure now are considering to stop partial can make exactly what is the production and BP is announcing a international plan (obvious to reduce team in place).

I would love say few words to encourage or suggest some alternatives, but if we sell now maybe we make correct but maybe will be the final mistake... We never can take out the table a takeover,,,
If people interested have a "momentum" to do that, this time is now...
With 3.80 initial offer and close at 4 I'm really positive they will achieve their goals..
And this means buy all the company for about 300m..the bargain of bargains..
Such buyers for sure doesn't care if today the oil is 61 and tomorrow will be 55..
They want to know in 2017 or 2018..Looking as far they look all probably agree we can be 80+

If the current price is unsustainable because begin cause losses the natural process is reduction of production.. the market naturally (but with a huge pain) self stabilise.

Now more than never we became a LONG TERM INVESTORS.. that means if you carry today must be because you believe in 2,3,5 years project...
Short term just miracles can promote the share..
No board can produce miracles.. In best scenario they can produce good results.

The final comment... And if we cut the losses now ?
Well probably everybody thought that the last months and day after day the ones that didn't regret.. May we sell now ?

Sincerely ? I'll not make any recommendation I will just express my personal view. I'll not sell at that price even aware that maybe the price could go lower...Not by vanity or lack or courage.

But because I still believe as soon the economies begin run better the first commodity to boom will be oil.


Cato