It's important that the management tell shareholders what they are doing and the current management seems to limit information to quarterly reports. It is difficult with such limited data to make an assumption of competence After all, shareholders believed in RM for nearly 10 years before the real data became known and his impact on the company realised and understood. This is a share that is not worth a penny and likely to struggle to maintain the high expectations of being a penny dreadful. the reality is that it needs to do what is necessary to either make a discovery or just survive until the oil industry recovers to near high levels. Since GSPC is not pulling its' weight, a pd type company cannot financially support the Indian Government and therefore, spending more money there is an interesting dilemma. The fundamental problem with the Indian economy is that Government is heavily into the business sector. Why? Because they have no other way to get income, given the cleverness of the population to hide their money and the power of the black market. Root causes are not being addressed for political reasons. There is little likelihood of India becoming a world power until this issue is addressed. the normal solution for Companies is to join the system, befriend the power wielders, but that requires a powerful representative in India and Bhandari was not powerful enough.
OEX Price at posting:
0.9¢ Sentiment: None Disclosure: Not Held
