Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-19

because there is no clear direction over the last 12 months.

if this project gets off the ground, and right now from my perspective that's a big IF, it'll come down to dumb luck.

yes I understand they're employing the right people to tackle this problem, but the reality is they dove into this project not anticipating or even knowing it was going to be a problem. it's not like the company sat down and mapped out these specific problems and worked out a plan to address them. the awful truth, for me at least, is it appears they're flying by the seat of their pants.

the company had, in my view, a very reductionist view of the complexities around a hydrocarbon deposit. and now we're paying the price.

to their credit they're really trying to deal with the challenges. from comments last year, I genuinely believe they planned to drop alpha and focus on the ET. but now they're realising the ET may be a giant duster and so they may have to work with what they have. and to their credit they really are.

whether it works out, as I said, is going to be pure and simple dumb luck.

what worries me even more is the problems over at BDC where they did a consolidation and even changed their ticker. good grief. talk about damage control.

and let's not talk about the cash burn and the increasingly likely CR in the teens.

I truly do wish good luck to the diamond hands and true believers.

all my subjective opinion only. not advice. dyor.