Didn't we try that recently and it was overturned by the majority of shareholders?
When will we learn?
How about we let the management team spend the funds they raised for the express purpose of drilling the 4 wells (Orraminna, PV and 2 at Merennie) and then we can assess the success or otherwise of the program. In parallel with that, and in a commercially astute manner we can get the existing gas converted into some form of sales agreement and potentially even option up some of the upside gas (from the 4 wells) into the agreement. This can all be done at prices that will see cash flows rise into the future and see us pay down the debt and get some returns to long-suffering shareholders.
The alternative is more non-productive costs for the potential removal of board members who are likely a lot more experienced than those calling for their heads. It also probbaly leads to more share price downside, or sideways trading at best.
Let's all think about this and let them do their elected jobs.
Cheers, AL
CTP Price at posting:
8.7¢ Sentiment: Buy Disclosure: Held
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