Share price has declined from of 20 cents when launched
Company rejects bid of 22cents mid 2016
At face value no action on assets held and no real guidance on when work will be done , ie per last qrtly
Northern Star Project - "As previously stated the JV partner was expected to drill the second horizontal well, in H2 2016 however this was behind schedule and they have not completed their well commitment by the due date in the JV agreement."
Rough House Project "Subject to permitting, RFP was expected to drill the first well in the 2H 2016 (AOW free carried) and the second well should follow shortly thereafter. We are still awaiting guidance from RFP on when the first well under this JV will be drilled"
So a year on and no clearer on when existing assets will be explord / leveraged ? ( not much change to updates for the last 4 quarterly reports - nearly a cut and paste each quarter)
Overall not many positives to date with this company , today a new asset purchase ?
Best of luck to all holders and let's hope management can turn things around and start creating value for shareholders.
AOW Price at posting:
3.2¢ Sentiment: Hold Disclosure: Held
