I agree David Deloub does appear to be more honest than many others. . In addition changing the CEO at this point in time would be disastrous for the share price and the current projects. Their are no other employees that can step in or fill in and apart from the secretary as David really is the only employee. . Also i have noticed that for some SMALL ASX companies with large cash reserves the CEO and board have raided them leaving the investors high and dry. 8 million might be quite tempting for some new to CEO's to funnel off leaving us all here high and dry. . Other Small Oil and Gas Companies on the ASX have lower than normal P/E ratios and appear under priced..such as BRK or WDS BRK despite having 50+ wells and opening new wells the share price has fallen far more than Stonehorse so i largely don't entirely blame David Deloub for the current fall in share price but he could communicate a growth story more explicitly. . I think he waited to long for a drilling slot in the Louisiana before moving on to Canada and did not communicate enough with share holders during that period even if he was busy finding high ROI opportunities. A small update would have calmed a lot of people. . At the end of the day we do have two new wells with a high ROI and it looks likely we will have more and have large cash reserves and historically on average the fundamentals show good growth without any share dilution apart from the initial cap raise for the Juwel well. . On average the Cash reserves are growing so even with P/E ratio of zero we should see a large share price rise in a years time..unless he invest in many new wells raising the earnings and the P/E ration stays at zero at which point i will accumulate some more and will expect dividends to follow down the line. . Apart from the vicissitudes of the market share price what more could you ask for as a patient investor! .
SHE Price at posting:
1.5¢ Sentiment: None Disclosure: Held
