I had a moment to read over the recent interview conducted, i...

I had a moment to read over the recent interview conducted, i must say i am not impressed.

Vietnam aside, i am disappointed about the lack of progress at Paloma as well. Management should have had reached some JV deal or a selling down of percentage. They get paid enough to multi-task and not just concentrate on one area of the portfolio.

If i manage to trust management again the fundamentals may be there when we get a clearer picture.

Once cash is raised on the books and a clear plan is visible going forward there will be value under 10 cents in my opinion. But until these matters are sorted it will be a traders stock. While it probably is at a base now, i can't see it going up in a hurry.

The next couple of catalysts for the sp include;

Firstly, figuring out the cost over-run and whether we have to raise or what percentage to sell down assets in Vietnam.

Secondly, the 3D survey in Indonesia - if results are released to the market. Since the JV is currently tendering for a vessel 'early in the year' may be 3-6 moths away before we see results.

Good luck to those currently holding.