energyreview, page-5

Spot on innvestor!

This is what us long term holders have felt well before the first strike in Mauritania. As far as I'm concerned an ASX query was not necessary yesterday. WPL paid $1.10 per HDR share after the first Chinguetti strike. At this stage the well hadn't even been flow tested and when it was the following year, only recorded flow rates under 2000BOPD due to sand influx.
Add Tiof alone to the equation which I believe will be proved up to hold between 500 - 1000 MB minimum. Then we have Banda, Pelican which still has the potential to hold an ocean of black gold as the first drill was on the crest of the structure. This doesn't allow for all the other Miocene prospects (40+) which to date has produced 3 out of 3. With all this information available its not hard to see that Mauritania is right up there with the likes of Equatorial Guinea, Angola, etc. Those who have accumulated in the last 12 months at prices from 39 cents and onwards don't know how lucky they are when compared to those of us who have been riding the HDR roller coaster ride for the last 5 years plus knowing in our gut what we were sitting on. I've been in 2 years prior to the first chinguetti discovery and had I known I could buy in at 39 cents after 2 discoveries (chinguetti and banda) or 4 years later it would only be natural that one wouldn't have bet the wells as many of us have done. Then we have the increased equity which was a steal as it was agreed on before Chinguetti flowed properly, Tiof and Pelican discoveries. Lets not forget that Shell tried to acquire AGIPS 35% stake.
All these suggestions about a T/O offer under $2 is an absolute insult to those of us who have been waiting years. We all know that we would be reluctant to accept $5 a share when you consider that Uganda, Gabon and Eritrea all have huge potential let alone the 10's of billions of barrels waiting to be proved up in Mauritania.
Lets just hope that management keep composed and don't forget all of us who have been waiting years for what we believe is potentially a $10 stock paying nice dividends in future.
Black Scorpion, Tokyo Jo, Hardmano, Towie, Sailor girl, etc know exactly where i'm coming from. Strong buying will only get stronger from here on. Finally people are starting to see what we saw years ago.

Regards,
xmagx