Freeport is now in default on their contract to drill a second well in Mazagan. They have an obligation to spend around $200m on this well and we are free carried for 23%. We should now take Court action against Freeport for specific performance and damages. There is no way we should accept some petty $15 m payout to satisfy the short term punters and in so doing, loose our best opportunity at greatness.
Our interests are best served by getting this well drilled. Probably Toubkal. That's what we do, drill for oil and gas, and success will be a company maker. It's not guaranteed. It never is but that is how we get big rewards. Sometimes it works out.
Damon has a legal background and is aware of all this.
If we accept a petty payout we are selling the shareholders down the drain. We have no obligation to help out Freeport because they have decided to save money by dumping us.
Freeport must step up and honour their contract to drill a second well and do it now.
Cheers,
Freeport is now in default on their contract to drill a second...
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add HHR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
0.6¢ |
Change
-0.001(14.3%) |
Mkt cap ! $16.85M | |||
| Open | High | Low | Value | Volume |
| 0.7¢ | 0.7¢ | 0.6¢ | $32.53K | 5.183M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 28 | 11086175 | 0.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.7¢ | 4404864 | 7 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| HHR (ASX) Chart |