-over paying staff/consultants -lack of respect for shareholders -lying to shareholders(Albany wells) -performance bonuses for management of a company that has continuously underperformed
then you have this disgusting merger that is nothing more than a cheap cash grab, again diluting existing shareholders for a mere 5 million dollars
it really is very simple, a small cap in the cooper basin should be run extremely efficiently. The complete opposite of what has been happening. As I have stated previously, we have some of the highest staff overheads for a company our size on the asx. The market doesn’t want it and I don’t blame them one bit! I’m still in because I know the assets have massive upside potential. Unfortunately it looks the potential may never be realised with current management.
on another note, let’s not forget the Odin Field pipeline will also need to be upgraded if we ever do produce enough gas from the field.
VEN Price at posting:
0.8¢ Sentiment: None Disclosure: Held
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