Given my previous critical posts this may sound rather strange but it looks like the board have at least recognised the seriousness of the situation as they state in the Operations Report that:
"....With the ongoing political tensions and conflict between Ukraine and Russia, the Board has placed a greater interest on opportunities outside the region to provide geographic and political diversity."
Gives me some hope that they have indeed come to the collective view that Ukraine is going nowhere anytime soon and they are actually looking at other opportunities (and not merely sticking their heads in the sand and praying for the best).
Given we all know we have lost most of our money here; lets hope they are serious about getting something new in there, secure some capital, and going again.
Yes, long term holders will have lost a lot of their money but all we can hope for now is that they find some new project and "go again".
As much as I, too, want to complain about how this was run in the past (and have to previous management); fact is we are a shell. Nothing we do or say changes that. We are in a crap country (in geo political terms), we have wells that don't produce and a gas plant but no gas. It is all bad news.
However, rather than liquidate, if they find a new project we have a second chance. Find no project, it is "close the doors" time and that means a guaranteed zero return. I'd rather take my chances with the next project (assuming they can find one).
HOG Price at posting:
0.2¢ Sentiment: None Disclosure: Held
