Originally posted by zipperlip
You’re right, OOO.
We, as investors, take a punt.
Management take an educated guess based on many factors, good analysis, years of experience and generally backed up and cross referenced with JV partners before they commit to their plans, to name a few.
Then they take a punt
!
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Cop Wpl and Cne fo the exact same thing ( sometimes better sometimes worse than Cath & Co.)
Lifes a gamble, just walking out our front door takes a leap of faith and a modicum of luck to make it back.
Some of our friends seem to think our management are inept for not capitalising on the SP run leading up to the last drill results!
It seems to be a statistical anomaly that these same posters have been warning us mob of the dreaded spectre of a CR, on a regular bases, since Far raised cash last time and generally they throw in the other distasteful option of a consolidation.
I’m glad we don’t have people like that in our Management, the company would still be sitting on the shelf.
I wouldn’t like to see them on the boards of Cop or WPL for that matter as they’re even bigger gamblers than Far ( they have more cash that they can risk).
PS Enjoy your weekend and thanks for posting your thoughts. zip
I actually think a basic CR (non-diluting investment) to raise some of the required cash for SNE FEED and development is better than any kind of debt that requires interest payments.
Consolidation 10 for 1 would be sensible.
I dont think that current management have made any catastrophic decisions, but they have been way too optimistic with market communications.
Djiffere farm-in option
AMI with CNOOC
PE timetable
SAMO
I am hoping that CN's feisty response to PC regarding SNE finance is not just hot air and over optimism.....
QUOTE
Ms Norman said if Samo makes the targeted discovery, "our financing is going to be very straightforward" but that FAR has several options even if the well isn't successful."If [Mr Coleman]] is worried about our ability to fund, he shouldn't worry," she said."I think that we are probably in a better position than most of our partners in terms of understanding how to finance a Senegalese project. We are not dependent on a joint venture solution."
ENDQUOTE
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