I don't want to be too negative towards Kieran because he has been extremely successful but having been an investor in the speculative end of the market since I was 18 years of age I must say enabling delays with drilling by waiting for the Crusader rig was the worst decision ever made. I'm happy that they arranged lots of business proposals etc behind the scenes that I'm sure many of us are unaware of. I do realize they all put in a lot work but the lack of exploration activity really hit us hard and has pushed us back. I don't care that we would of had to drill with an older rig. I also didn't care when Keiran would talk about the rig up and rig down times and saving a week or two or a few million. All I could see in my mind flashing in bright lights was "DELAY DELAY DELAY". We only got the opportunity to rig up and rig down the Crusader rig once! The older rig was good enough to get the job done on many of Buru's wells. To save a few million here and there they decided to wait for the Crusader rig and it hurt us with dilution anyway when they decided to raise funds during times of "no exploration activity". I was going to mention this at the AGM but I didn't want to look like a little smart ass in the back of the AGM room.
It's no surprise to me that Eric is back. They key is keeping things rolling with drilling, testing and continued exploration with speculative stocks. You need to keep the market interested and excited and then also pursue "business opportunities and development" in the background or behind the scenes. The decision I totally disagreed with was the stopping of drilling with the older Ensign rig. I'm glad to see activity is planned for the second half of the year. Its time to get things back on track, time to get the market interested again. Eric will get the job done. Anyway thats my rant. I'm still around..but I'm frustrated,
BRU Price at posting:
91.5¢ Sentiment: Hold Disclosure: Held
