OIL going under? no way!, page-8

Unfortunately you're correct MONT.
The only question now is whether long suffering holders will get to see any of the value that's left. My guess is something will be resurrected from the ashes but just like in the past little or nothing will flow to shareholders. However, anything is possible. As said previously it's not a negative whereas more of the same would have been. It needs resolution and everyone swept from the company including the tech guys and including Peter Delaney.

I do not blame the new management no matter what their background. They were given a half sunken ship and asked to make it float again. They could have done much more and made no attempt to excite and rejuvinate the company but for such a short time it's hard for us to know what they were dealing with. Shareholders also carry some small part of the blame. They should have been more proactive in calling the company and pushing results. Leave some non effectual to themselves and what do you get back? I'm very big on the fact that a good shareholder group can make a difference if they work together. They are after all the owners of the company.

We run a pseudo office in Vietnam from Hong Kong. We take Indian programmers to Vietnam as contractors which they love and we get great value. How much have the software snouts been paid over many years to sit there and program in Mt Waverley. Is their any incentive for them to be quick. The problem is that to be an International company you have to act the part and you have to spread yourselves in an effective manner. That means you may have a base in Australia but you go wherever you get true value for money. Those small development centres then become your centres to explore those markets. It means double value. I watched how OIL went about foreign exposure and local development and it was all wrong. wasteful and ineffective. They also fell into the age of trap of being dazzled by big names and taking their eyes of the ball. A company without direction moving to the whims of bigger players. Had they had a cohesive development plan from the start and stuck to it they would have been a highly successful company by now.