Indeed and how wrong management were, the discussions at COAG level did not even raise the issues associated with pipeline tariff and pipeline regulations, it was delayed until well into next year (lol) and any significant change in share price over the Xmas period has also been grossly incorrect, we are 3 cents pre consolidation aftr all.
So yet again we seem to await for that share price average to gain in strenght over a given period of time prior (average over period x 30% uplift) to a low ball T/O off er by MQG which we anticipate will be rejected by management. But but but, once rejection is annouced at say for example 26 cents, what happens to penny dreadful share price? some say down down down, other will differ greatly, go figure.
It is hard to comprehend that central has failed to secure sophisticated investors, its is obvious that the story (selling the lemon) and those massive debt(s) and bean counter deals of past may have spooked sophisticated investor(s) away, after all this penny dreadful according to dreadful still need to rattle the tin for yet another 60m to 80m just to explore and drill, ouchhhhhh.
Even to entice investors to support penny dreadful at these prices viewed today has failed to secure share price strength, even knowing the probability that MQG will revise their T/O bid upwards and provide a quick profit making opportunity seems to have fails to secure investors. Look at today for example, $3,000 worth of trades done only, what has gone so terribly wrong?
It has been recognised by management that additional board member at penny dreadful is required, management state the complexities with the company as being the catalysts for such additional board member inclusion. I welcome this decision but but but, we are now close to three (3) month since management stated such requirement and I am still left waiting.
It is evident for this little black duck that penny dreadful has become all to hard, the additional board member a testiment to the hardships involved in managemening this penny dreadful, the pressures that come with the T/O offers by MQG and the pressures to confom to JV requirements could be keeping some central persons awake at night. But but but, is it not simple to take that step change and remove those complexities?
CoM is available at a reasonable fee should management want to turn this company around, alternaively I am sure that at a far greater fee, JH may step out of the shadows and belly laughter mode and lend valuable advise as to how this situation may be better managed.
(CoM in reflection mode)
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