I think the writing might be on the wall for us here, we’re in...

I think the writing might be on the wall for us here, we’re in the high end of the oil price cycle which should be about monetising our assets. It doesn’t look like management intend to sell the acreage because there’s more value in developing it, fair enough.

However I dont think you can bank on time, to develop all the acreage at this rate will take years in which we wont know where the oil price will be (potentially lower with increased costs and even slower growth). The original plan was to develop at $40 a barrel (if i remember correctlyi) so if we’re not monetising at 70+ what hope is there when it drops.

The company has said many times they aren’t paying dividends so i dont quite see where the value is going to come from for shareholders even in the medium term.

the mention of land sales and buy-backs etc seem to me like just a panic reaction to our languishing share price to try fight fires. I’m sure in 5 years they’ll have a hefty bank account but i struggle to see a positive future for share holders on this one now.

Im deep in a loss so I’ll reluctantly hold for now but its hard to see an upside here in regards to the SP