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clock Created with Sketch. 03/01/22
13:02
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Originally posted by longreach:
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Seems you have a poor memory. You posted the following related to OEL August 2021:Case in point: SGC. A month ago SGC acquired the NDO assets in the Philippines. SC 58 is still an exploration block but has the potential to be another Malampaya. SC 54A is a discovery and flowed some during EWT several years ago (and has other prospects to boot). And some people say that West Linapacan may contain 20 to 50 million barrels. All 3 are still waiting to be developed but the market has taken notice. Prior to July the shares of SGC where languishing. After the acquisition, SGC share price went from 3 cents to nearly 6. It has since retraced back to 4.7. The point is: SGC knew that the NDO acquisition will give some excitement about its future potential for finding an "elephant". This is what OEL has lacked and continues to lack. The FCF pays for wages and lifestyle, nothing more. They haven't got a clue or are not motivated to get in on something big and risky, but exciting. Without a change of management, this stock is doomed to remain at these levels."
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Thanks Longreach and Happy New Year.
(20min delay)