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Dargus, I have been in this stock for a few years but didnt ever see it get to .004. Must have been before my time, or did you mean .04?
Anyway,the sp did lift for a while but has settled back again. I think that the market will be looking for real progress this time and not the usual smoke RJ has been blowing for years.
The reserve picture is a long long way from being known. First there must be extensive drilling and testing, something that RJ has been talking about for too long but doing nothing. The last announcement was all about discussions and negotiations with a rig company but as yet there has been no announcement regarding a rig contract being signed.
After reserves are known, then the hard work begins.It is no good having reserves if you cant sell them, so a real gas sales contract is needed, not the shaky type that he had in mind with BNB of all companies.Well obviously that one is not going to happen. I cant remember when RJ ever got a deal over the line, and remember there is competition to sell gas, otherwise all the buyers would be knocking on his door or taking ICN over.The top end of the gas market is slowly but surely getting stitched up.
Finally, there are good people out in the market that would be available. I know two young guns in Santos that could outperform RJ any day of the week,AND, they would only cost half of what we pay RJ.
Sorry to have disillisioned you but at least you now know why the move towards an EGM .