The company has been making promises in announcements since 2019 and it’s been one delay after another with everything!
it was with innamincka, two year delay with what was supposed to be a company changer as we all believed but has turned out that the revenue will barely keep the lights on and keep up with the corporate salaries, even with Y1 coming online that won’t change this much - sp will have no response IMO.
Then we have Killa another supposedly company maker but 4 yrs on and we’re still no closer to producing one iota of crude! So now we have Santos to the rescue who will basically take over the project - there goes our revenue! Still contracts haven’t been signed and govt approvals have not been sought which take a minimum of two months to get approved - we all know how DEM operates in SA…
Lastly we have the Angolan acquisition which AK has been chasing since mid 2023 and how long did that take? What was the potential of the project when announced? We’re still waiting for the govt approvals (due two months ago) which the project cannot proceed without, then there’s the 3 yrs for the G&G which there’s 2.5 yrs remaining now and not a snorkel has been wet but if there is no action by year 4 the project is null and void!
Oh but wait, AK is currently somewhere doing something that has Quany excited… really? It’s the same old elbow spin we’ve been getting all along and AK selling to brokers for EVER and not one of them has touched ROG with a10 ft pole other than Scintilla who were gifted shares at .002 and then pumped and dumped them, again it’s all there in the register!
AK can have his little secret meetings in Perth with the top 10 on regular occasions to make them feel good but in reality nothing has happened and I dare say nothing will happen this year.
Miracles are possible but I doubt that!
Everything about this company is a long shot as expressed above!
You wanna run with that be my guest !
ROG Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
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