The numbers stack up that this would be roughly that case...
This is why they need to..... - Put the money in the bank for now - Drill a few more wells to increase production from the known - Spend a little money to get the reserves report (they already have most of the data!!) to entice some bigger players in at a later date - Stop mucking about with any further opportunities.
I might be able to understand pulling together a portfolio of potential opportunities if they were all of similar geology, but the opportunities are all over the place. Each different geological area requires a different expertise. If this expertise does not come from within then you need to pay for it.....consultants (in any form of expertise) do not come cheap and we are not in a position where we are flush with cash or able to generate significant amounts from CR either....and there are not other options!!
We want to have the tag of an exploration company that is paying it's way (plus a little)......then people will take notice!!
GEV Price at posting:
12.0¢ Sentiment: LT Buy Disclosure: Held
