PEN - one of my earliest shares. And the past is the key to the...

PEN - one of my earliest shares. And the past is the key to the future. Trading halt then suspension without a word to shareholders. Utter contempt. Risk is all about probability and consequence. And BOE would not mess with that sort of high risk and fatal consequence. I presume you are joking.

Past is the key... new management team is taking their time to sort stuff out, and is not all doom and gloom. Some things were beyond previous managements' control - where was BOE after Fukushima? They also dealt with the transition to ISR, with delays and then the 11th hour notice from the milling company, meaning they had to acquire that capability, which took an age. The last management team over promised by habit.

You might take a peek at the April quarterly to get a better feel of the new team, their direction and last regulatory approval for Kendrick field announcement of 13th May.

I now hold nearly 3x in BOE than PEN, however believe IF the new team can get production humming and grow credibility PEN has to outperform, as their market cap relative to their resource, being in the US and now entering into production, is way undervalued at $99 mill. There are Aussie U plays well away from production with much higher market caps, let alone BOE at $1.5 bill.

So not joking at all, boom or bust.