12 dollar gas, page-9

MJS

agree wholeheartedly with your comments and sentiments.
At the risk of incurring the wrath of stale bulls it is my belief that the current sp (which is my entry price) there is little downside.
Yes, Amadeus has seriously underperformed in comparison to their peers. No arguement there.
However i believe that the Co is making genuine efforts to address the issues.

Shareholder communication is an issue.
Yesterday i had a long chat with Caroline Bentley (director/ Co sec). The Co is aware that it needs to communicate better with s/h and are taking steps to improve this. Management has been on the road alot lately and this may account for some of the problem. I believe new COO will be given the task of dealing with shareholders.
They are looking at re-working the weekly drill reports and issuing a s/h newsletter.

New COO is currently in US making a review of operations and also putting a fire under TNT in order to get those reserve statements finalised. COO to present a strategic review to board with recomendations for change across all facets of the business as identified.

COO has been charged with the task of raising Amadeus profile internationally and attracting new investors to the stock.

I enquired about the ARW issue but she declined to comment on the grounds that it was market sensitive, fair enough. I maintain my belief that the decision to write down ARW investment to $0.00 sends a clear message with regards to their future intentions, we should know soon when rights issue closes.

Exploration drilling does seem to have slowed recently, apparently this is due to conditions on the ground and the decision to temporarily suspend some drilling activity until conditions improve was made on the advice of the operator. and yes i did suggest that this should have been communicated to the market (although it is not terribly material)in the interests of keeping s/h in 'the loop'. Development drilling should recommence shortly.

Brokers and analysts agree that AMU is worth an easy $1 per share and bank values reserves at over US$220m.
Whether or not it is reflected in the sp short term or not, this qtr will be another record breaker for the company and hopefully we will start to see a turnaround in the way the Co handles itself on the corporate front as this is where improvements are required.

Fundamentally i believe the Co is in very good shape no matter which way you look at it, imo and the business continues to grow rapidly.

Can fully understand the frustration of those that have held for some time but suspect we may be on the verge of a turnaround.

If/when the market changes sentiment towards Amadeus i believe that the re-rate will be swift, as we all know there is a lot of catching up to do as at the end of the day these guys have a proven track record for finding Oil and Gas and this is a very solid profitable business.