re: Ann: Solimar Expands portfolio in key pro... Hmm I dont know whether to cheer or boo this announcement.
On the one hand they have consolidated some of their current portfolio which is nice but have reduced their cash balance which I had kinda hoped would go towards drilling. While this is supposed to lead to some sort of farmin I really hope they have something almost lined up for all this effort. Im not going to be thrilled if they come running to shareholders for more money in the short term.
Management have progressively diversified their portfolio while failing to deliver a commercial outcome at SELH. This concerns me as I would rather they just get on with the job of investigating SELH rather than a whole lot of side distratctions that seem marginal at best (Oil opportunities on old fields with deep wells that may still have some legs left!). Seriously, who needs that distraction when they could be focussing all their effort into commercialising SELH?
If they hit their straps with SELH I suspect we would be happy shareholders. Then they can worry about other opportunities. Anyway just venting, understand the benefits of a controlling position, its just that these are positions in assets that to me will simply take management's eye off the prize.
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