("Actions taken ? a specific role established for Investor Relations ? Over 200 meetings with investors and brokers held since February ? Presentations at investor conferences and broker briefings in Melbourne, Sydney, New York, London and Singapore")
Spot on there mate. Nothing that they have done, seem to have turned the cards in our favour. Obvioulsy the market is not taking notice of what they have to say, nor are they believing in what they are proposing to do. Either one or the others, or both.
("Even if Mungi sale goes thru at current Sp i doubt the SP will even recover to where they took control the market is just not going to give two hoots at present.")
It is very obvious that what you are saying is correct. The market is not taking notice of what they are saying. Even when other oilers sp is improving we are going backwards.
("They will need other news to make it stick and i don't mean another acquisition unless it is already a proven earner!!")
That I have been saying myself for quite a long time. What is the use of doing more and more acquisitions and diluting our cash reserves when we aren't producing much oil at all lol.
By doing so, all we are doing is heading to another Capital raising, especially if we don't sell the QLD assets. And if we are to sell the QLD asset, I hope that they will not be forced into a fire sale and just use the excuse in saying that it is no longer a core asset of ours.
What we need is a good well which is a good oil producer. And with that I don't mean a couple of hundred bopd well either. It has to be a well that will pump in excess of those figures. We have wells here in OZ that pumps more bopd than that, even without having the needs to drill the amount of horizontals that they are planning to drill over there.
As you wrote veeone, any acquisition that they plan to make, would have to be where there is already oil in production. And not a pitiful amount of oil and earnings either.
MPO Price at posting:
55.5¢ Sentiment: Hold Disclosure: Held
