Nice.these guys have been trying to develop their gas tenement...

Nice.

these guys have been trying to develop their gas tenement and reserves in Indonesia, a country notoriously difficult to navigate deals. Gas plays are costly to develop and offer no guarantees of being able to produce. They have been able to get a small operation which gives them 40 barrels of oil a day which gives them a limited income and they have teamed up with a Taiwan gas exploration/developer to try developing the field further, for which they get a 40% share of whatever eventuates with no costs incurred.

Now they realise that with this asset and their experience in the industry they can leverage a hydrogen play and have appointed Dr Dicks to help them achieve this.

i understand long term holders frustrated sentiments at the lack of progress and the dilution of the share price but remember that the company is only worth what is it at this point of time and what it can do moving forward.

it looks like they have a very high cash burn rate with the amount of advisors/directors/secretaries etc on board but the cash flow from the oil income should cover this and I am interested to see what they come up with with their contacts and backgrounds.

having said that the company presentation they delivered to the market last week was a shocker.

can these guys come thru with a multi bagging money maker?