Been thinking lately we may all have underestimated Boomasangs value to the company, obviously was held in fond affection by Crabb for his style and talents.Perhaps he deserves a lot of the credit for maintaining SC55 and even keeping Galoc running smoothly from a bureaucratic point of view. Possibly OEL having fallen short in Alaska by not having an Alaskan "Boomasang" on the payroll, possibly the same could be said for Tanz.
I suspect the "conservative" "measured" style has backfired . One thing i noticed speaking to various people over many years at OEL was an absence of any momentum or vigor. It was never like "wow this company is going places fast, you would get off the phone and be thinking these guys are working to 100 year plan. Which would be ok if i had bought the shares for my grandkids kids unfortunately i bought them to see a profit in my lifetime preferrably before im dribbling into my mash potatoes in a nursing home thinking Otto energy is a chocolate bar.
The other thing which still doesnt sit well with me and must be affecting the SP is the lack of buying by Directors
even at 2c. Ive been shocked by this ...when the SP dropped sharply to 2c and some buying volume came thru i was thinking for sure in a few days we are going to get a notice such and such Director bought x amount.
So whats the message being sent by them ? Thank goodness we got 1/2 our money back when we did.....or the SP is still not cheap enough.....we dont like risk full stop......our money is better spent elsewhere.....
Basically in the shorterm our investment is reliant on the skills of the geo guys at Byron and some luck as far as i can see.
OEL Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
(20min delay)