how low can we go...., page-32

Dude the voice of reason? really? trying to pump a stock sounds more like it .

We (the long term holder) have been focusing on the long term opportunity for the last 4 years since the last real project the AMAZON duster wells back in 2011 .

I'm all for wiping the slate and moving forward with the "new" JV or any other REAL project that they put up but so far I haven't seen any timelines made public by management!

Right now all we have is a press release which may or may not eventuate remember the last project announcements

(we were told
"Quest Petroleum announces high priority drilling program in South Sumatra"
{16 Apr 2012} or
"Capital Raising to Commence Drilling of Jaya Sub-Basin Leads"
{26 Jul 2012} or
"Drilling Approval Received - Target Spud Date for Kayumanis-1 Well set for December 2012"{31 Jul 2012} or any of the other fanciful announcements that have been made )


guess what.......never happened... despite all the pumping

...and Even if the JV gets off the ground we still face significant hurdles to production.

1. I don't see any mention of where the two main regional pipelines are in relation in the drill sites.

2. Even if they were close was a pipeline The announcement of 27-11-14 in which the company touts an oil ready drill, talks about oil at 19 API, a grade of Heavy Sour – Synbit generally far to thick to pump down a pipeline. Unless you have a lot of natural gas condensate you can pump through with it or you can dilute it it with Naptha or synthetic crude (at a further cost to our $ per barrel production cost).

3, Most likely we are going to have to truck out, which increases our cost.

4. Therefore quoting the average cost per barrel production of $24.33 bbl (for the whole industry mind you) might be relevant if we are sitting right on top of a pipeline with perfect pump-able highly viscose oil. But their own data points to that not being the case.

To sum up these comments,
If this actually gets off the ground great,
If they hit oil great,
If they are able to produce oil cost effectively at $30.00bbl we are on a winner!!!
But the chance of that slim.

Don't get me wrong I'll would happy to be proved wrong and see the price skyrocket past $0.50 but till I am...buyer beware!

In the meantime, I'm going to sit on my massive loss and stop pointing out the negatives about the company and management and let you guys go about making your gallant efforts to pump the stock...

Best of luck to all