Well I am also a long term suffering share holder (thank goodness I did some trades & made a profit on the options) However still holding the bag on the FP.
These guys will take on any gig that presents itself & are being rewarded (exceptionally well). Don't mind issuing them with options when performance hurdles are met - for example producing crude.
We should have a drill in the ground by now, no ifs or buts (if the oil is there - do we even know this, seismics still getting done at 2.5 km per day - only another 1,800 to go).
We had a (40 for 1 share consolidation) to reduce the number of shares. Pre this the share price was trading between 2.5 & 5 cents. Now AFTER consolidation our share price languishes at .17 of a cent (in pre consolidation terms 7.1c/40)..
So what are we doing now? Issuing more shares to get more money to still try to finish the seismics that we secured years ago that gave us an insight to the potential left inthe ground. ( At the current rate of logging will we even still need oil :)...
So we have gone backwards in no uncertain terms. Milestone after milestone missed - wait a second -- I think there is another announcement......in 2 weeks.....a bit sick & tired of hearing the promises that don't eventuate.
In fact the only announcements that are true to form are the remuneration ones...Strange that...
Would love to pull the trigger on this one but am in it till the bitter end. Holding not significant, its the opportunity cost that annoys me.
Wish it would stay in suspension until the data logging in complete. Then we could have an announcement. Then we could have a capital raising. Instead lets get back to a billion shares on issue worth .............NOTHING..
RRS Price at posting:
5.5¢ Sentiment: Hold Disclosure: Held
