I agree on all sentiments auto.Why are we paying this technical...

I agree on all sentiments auto.

Why are we paying this technical team and so called new ventures exploration team like Conrad Jupiters Todd so much money when its clear they are not fair dinkim about aquisitions. As for keeping cash for development, thats just an excuse for not finding any opportunities in the GFC. Last years presentation was a load of hogwash about spending the cash to take opportunities of the GFC and missing a golden buyback opportunity at 20 to 30 cents.

This years presentation including the chairmans address just kept pressing the point that they couldn't find anything that met their risk reward criteria blah blah. Hello, finding oil is risky anywhere even in Tunisia I reckon LOL.

Lets find something first, capital raise at levels close to $1 then develop like you said Auto.

The only thing thats earmarked with the cash is the directors salaries. I love the fact their bonuses are based on hydrocarbon discoveries. Looks like no bonuses coming their way for many years lol. But you can bet their bottom dollar the reasonable level industry salary will be reasonably at the very top of the industry.

I also found the presentation to come across agressive towards the shareholders questions, all which are reasonable and legitimate concerns for an investor.

I am praying for a rig for fuchsia as soon as possible. Unless they acquire something between now and fuchsia spud, I am outa here.

New Motto

Infinite potential but unfortunately does not meet our risk reward criteria, solid results until PEL 92 is milked!

Goal

Create School Teacher Wealth