I am very happy that the management has finally done the right thing. (see below my post on April 4 2105)
I will support them all the way from now on even though I lost huge amount of money (in the books though) and I suffered a lot.
The money left in the company is not a lot now, but we will start from scratch, that's for sure. We will still have the exposure to the US and Copper basin assets through Sundance Energy.
This was what I said on my post # 15026375 on April 4 2015.
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"Despite all their fatal mistakes, even I warned them a lot by my bets effort for protecting my investment, I WILL SUPPORT THE MANAGEMENT IF THEY DO THE RIGHT NECESSARY ACTIONS.
I would like them to do these if they get out this crisis;
1A- BRING THE REAL VALUE OF SOUTHERN CANNING PROJECT BY MAKING NEW PRESENTATIONS OR WHATEVER.
1B- Do whatever you can do for bringing the all information back again. No one is going to blame you for that.
2- Sell the Eagle Ford assets at any cost and get rid of the burden.
3- Sell the EF assets without fracturing the second 2 wells then you don't have to 45 million shares to OEH/PFE Holdings partners.
3- Sell the Cooper Basin PEL570 assets asap to fund Merlinleigh Condon-1 Drilling or keep the money.
4- Drill Condon-1 asap if you believe there is good chance of finding gas there. (All infrastructure and desktop work was ready). If not, just leave it, farm it out or sell it.
5- With the cash money in hand from Cooper asset sale, make a share buy back and increase the share value.
6- Seek for a good deal for SCP farmout."
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