They keep harping on about the "Three Pillars" strategy. However...

They keep harping on about the "Three Pillars" strategy. However while they may be acquiring a working interest in a few other wells, the only pillar that the Company seems intent on pushing is 'business as usual' pillar of their main business plan.

While the Director's have obtained huge loans (that they are not required to pay back mind you) to exercise their options, a consolidation in my opinion will not occur.

The price at 1.2 has found a base while if it's a 1 - 10 consol and the price is now 12 cents, there is a lot more chance of the share price falling and virtually no chance that the Director's will be able to secure a profit and pay out their loans.

It's clear that business as usual by spudding more wells is not working for the Company. We're producing money yet our overall balance drops by $3m last Q. In my opinion it needs a major catalyst to get it noticed by the market.

If this continues and management do not do anything else other than what they're doing, it will be time for a change of personnel. Bring in someone who can get the job done and get the share price momentum going upwards.