My comments are based purely and simply on discussions I had with management a few years back when they presented in Melbourne. I looked at them straight in the eye and asked a series of questions in relation to our chances of success. Their response was an oil price above 70 dollars would make life pretty easy in securing contracts. I am hoping you are right. I am hoping like every other long term holder that success is not to far away.
Having an oil price below 50 dollars at the time made for an easy excuse for achieving little . I could fully appreciate that an oil price at that time was making life difficult.
So one can only conclude that their enthusiasm for what could be achieved with an oil price above 70 dollars was obviously too bullish given where we sit today.
If I was standing eye to eye with them today and asked them the same question I wonder what their response would be .
They are spending plenty of money on very experienced personnel who were not there a few years back when the oil price was below 50 dollars.
At the end of the day shareholders are entitled to see bang for their buck. Have we seen evidence of this during the past 12 months to coincide with all of these appointments. I will leave that for others to judge.
Having been a very long term holder, no one wants LNG to succeed more them myself.
Lets hope and pray that these guys can do it.
LNG Price at posting:
65.0¢ Sentiment: Hold Disclosure: Held
