About a week ago, I offerred AWE a bonafide oil field with reoverable on shore reserve of 900 million barrels of oil. The incground value of this is about 70 times the current market cap of AWE. I got a rapid, but curt, response asking for more information, which I supplied. I followed this up with a voice mail message (it is impossible to speak to managment of AWE) asking if they were considering the proposal as if not could they please advise I would like to offer it to others. I did not get any reponse either to my email offer or to my voicemail message.
I was left with the impression that AWE are run by a bunch of arrogant people who do not understand the protocol of doing business. History shows that managment of such company's are amongst the bottom quartile of the industry because because people and companies don't like dealing with them and they lose opportunities.
What is worse is that I own 60,000 shares in AWE and feel like have been treated with contempt. I think that Don Argus letter to the shareholders of BHP shoulod be compulsory reading by AWE managment as they clearly do not have the same philosophy regarding the owners of the Company. I am a seller when I can recover my cost price never again to revist AWE.
All this is a shame. The oil industry is quite small and news moves quickly. Youv'e all heard the joke about the oil strike in hell.
This is just for information, please do your own research, but AWE managment is not for me.
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