cash position, page-57

Please zmans dont use cvn as an example to explain your point. It has taken cvn nearly 4 yrs, of good exploration, a good technical team and alot of luck, where others would have failed. Its 400m for a reason, exploration areas, thailand and australian north west, and production from numerious wells and fields. Different kettle of fish. You need to compare jpr to alot of the smaller players in the oil and gas exploration indusrty and you will find jpr market cap is high, because people like me and you expect them to deliver, so a lot of the potential good news is factored into the share price., There will be many capital raising, joint ventures, equity partners, etc they will arise into the future before Jpr comes close to cvn, thats the way cvn has done it. Managment dont care about what the share price is, nor should they, they are only interested in creating a profitable company, and in the advent this doesnt happen, they minimum ride the company as long as they can to at least shore up there retirement, because if things go bad, employment chances are low. So to protect the longivity of the company they will capital raise, they would be stupid not too.