Ann: CEO Resignation, page-5

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moorookamick

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18/03/16

16:20

Post #: 17313400
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Originally posted by moorookamick ↑

It looks like NZO has now got the quaddie:
3 anti NGO directors resigned and now Mr Biggs, the CEO.

For retailer shareholders who are not in the know, where does this leave us:
-on a rocket or a deckchair on the Titanic?

We can speculate that NGO has an agenda for the company and now that the CEO
is on his way out we can reasonably say that his preference for bunging in another hole in
East Kalimantan & burn half the company's cunning kick was not what NGO wanted.

Now let's look at the consequences of CUE drilling another hole:
-cost say a lazy $10 mil?
-prospect of success ....let's say 80%
Wouldn't that be a good bet?

Perhaps if you are NZO it may not be particularly good at the moment when you made a pitch last year to buy the company and ended up with 48% @ 10c. Now that the company is languishing at 6c odd,
perhaps if I were to be NZO I would want to leave thing be, despruik the oil find and
hope that the SP goes nowhere. Then after a few months re-pitch with just enough premium
to get the Chinese-Singaporeans saying thank you.

Is it a "Handbrake Harry" strategy?

Mr Biggs has not let the grass grow under his feet by taking up the new CEO role with AWE
at a lazy $800K P/a........thank you.

I guess following next weeks board meeting one has to ask will Grant Worner be offer
the CEO role for a short term just to steady the ship as he did late last year with NGE?
I guess all will be revealed after the Board Meeting.

So is all this good or bad?
Well, IMO, the fundamentals of the company are good and the oil strike bodes well for the future.
We have to wait , however, to see what's NGO's agenda.

-Is it Handbrake Harry?
-Is it another hole?
-Is it a farm-out derisk and if so will it be to NZO, PPP or, God forbid, AWE?

My twopence worth is on an NZO renewed takeover bid because with the recent oil strike, CUE is stronger than last year and the board & CEO shenanigans would seem to indicate that they are
lining up the ducks from the inside.

I's say thank you for 10c-15c/share for my modest parcel. How about you?.

MM

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PS: I mean NZO, not NGO.
MM

CUE Price at posting: 6.0¢ Sentiment: Buy Disclosure: Held
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