depth, page-13

Roamer,

No-one has said JPR has nothing, otherwise all holders would be idiots. JPR has 'good' leases and a smallish producer (currently still selling to the domestic market) and acreages with a lot of potential. But it stops there. Potential. Unless potential can be transformed into something tangible, it is what it is. To do that you need competent people.

Waterford are certainly not in the business of throwing money away. They've proved to be adroit businessmen. Why did you think JPR's so-called "management" had to sell the company out at ridiculous prices? THAT's how Waterford makes its money! Good outcome for them, absolutely!

Which leads to another issue - this business nous that JPR has acquired - could be a double-edged sword as far as I'm concerned. A good business decision for them, does NOT necessarily equate to a good one for current holders (and Waterford has proven that in this CR, and their previous boardroom shakeups). Many games could still be played out.