Sorry guys, its 8m, not 5m. I stuffed up, have many numbers flowing throw my head.
Just concerned about the time frames. I understand that there is really three directors that do the majority of the petro work, with the other three in charge of admin and equity investor. May need to look at that in future, and rid the company of an admin director and appoint another petro director to help out, or even just appoint another petro person. If we find more oil in the next lot of drilling, the developments available to the company may be constrained by a lack of personnel.
The company may need to look at employing some locals in Brazil and set up an office to fast track development. Hopefully management are considering this after the drilling is finished
ERH Price at posting:
10.5¢ Sentiment: LT Buy Disclosure: Held
