"(BPT couldnt pay a franked dividend previously as they had tax...

"(BPT couldnt pay a franked dividend previously as they had tax losses. (They werent paying taxes!!). Drilling costs provide immediate deductions.)"

tannedoz,

With what you wrote above, (re-read it, and think about it properly after you did so.) That means, and confirm, that the drilling costs incurred in all of these years, are far exceeding the profits they make. Hence why the dividends are unfranked.

So, is it of any use them telling us that they make huge profits, when in fact the operating costs are exceeding the revenues, and in reality there aren't any profits?
One can make huge revenues/sales, but if the costs incurred to make those revenues are exceeding the actual total revenue, then we have a loss. HENCE NO TAX, AND A RECIPY FOR DISASTER. IN AN ACCOUTING TERMINOLOGY, THAT IS A RECIPY TO ..............

As an Accountant, I am very concerned with that, and take what you said very seriously.

Hence why, in one of my previous posts, I wrote that I would like to see what the cash burn rate was for the last quarter, and how much of that abundant cash we had, is left now.

We have just been advised that we (BPT) have already sold a fair chunk of AOE shares). HAVE WE NOT.??

Why on earth did we have to sell AOE shares, which are going and doing very well in the market, plenty going for them, and are going to be worth a hell of a lot more in the very near future, If, as they say, we have plenty of cash??
That, to me, doesn't make any sense at all. You, are not going to sell any good and promising asset with plenty of upside, (And, IMHO, AOE is one of those things that fall within this category), if you don't need any funds in the near/immediate future.

I don't think that the Company is telling us the full story. Something doesn't weigh up, really.

I Know that I am now going to cop some very big flak from the hardline followers who can't stand being told anything wrong about the Company . So start firing away.

At the very least I expressed my views, and taken away (got rid of), some of my frustration.


And, you also wrote "(In relation to Monax and Marmota - Not all same people. Yes some consistent board members but different management.)"

tannedoz,

The Board is the one that makes and uphold the decisions in a Company. So, think about it. Management is only allowed to do what they want, after the Board approves and ratify it. As such, the Board is the one that cops a kick in the pants if the Company doesn't perform to expectations. With that in mind, in this case, the Board is responsible for what has happened to those two companies.

Good luck,....

Buddy ( A concerned shareholder. )