What a disappointing quarterly report. Wouldn't it be more appropriate to try and execute one acquisition at a time, at least then there is half a chance of getting it completed. Let's hope that the "quality and strategic nature of these acquisitions" is sensational because the transactions made to date are not living up to their expectations in terms of generating cash flow from sale of the 100's of barrels of oil per day that have been promised - OPUD! Value of oil in place is only meaningful if there is a strategy to get it out of the ground (Profitably). Not sure that this is clearly set out or understood - who's on the ground driving this? If there is 50 bopd of conventional production at Lake and Goose Creek, do the recompletions to get this flowing, or if it's not going to flow again, don't imply that it will. This low hanging fruit should be a priority to generate cash flow (that's the stuff that keeps a company in business in case management has lost sight of this). A$105k ~US$80k of revenue for the quarter would have to be disappointing for most shareholders? The financing package for the acquisitions that are on foot would want to be good because there's more capital to be raised otherwise.
AOW Price at posting:
2.5¢ Sentiment: Sell Disclosure: Held
