The resources report was in hindsight extremely optimistic....

The resources report was in hindsight extremely optimistic. Ridiculously so. With a report like that there would be a requirement of at least some oil showing, even if it turned out to be uneconomic. But we didn't even get the benefit of that bone.

Anybody looking at BKP prospects would have had a right on the basis of that report to at least expects some traces of oil at a level to at least provide some on going interest. And indeed this is how probably Total go involved...but they obviously realised the whole thing was Total BS.

So it had Total wasting millions, and lots of investors blowing thousands because they considered it inconceivable that an experienced company could produce such a terribly wrong analysis.

Not withstanding the pathetic-ness of management.....people did their money because of trust in the soundness and expertise of a resource analysis company. If only 10% of the report was correct, then no matter how bad management was, we would still be in the ball game.

I will be remembering the names of this management because I will certainly not be putting investment in any enterprise that has their involvement.