Im with Maxmac on this, they need to get focussed on drilling. We are overdue for some clear direction in this space with dates etc. Today was a perfect opportunity for the management to announce drilling/reentry/testing of wells. Im getting over their acreage obsession, they need to get focussed on their drilling programs and generating meaningful results and value for shareholders. Potential only excites for so long - results matter.
I searched through the announcement looking for the SELH well re-entry and test and found nothing! Come on what is going on with these wells??? How much longer do we have to wait for some meaningful information? I agree, next year will be active, and given the number of things that have been pushed to quarter 1 2011 - I think its now 3 activities (drilling/testing) on different prospects - we are in for interesting times. Now any bets if we will actually get all this work done? Given track record, I bet management will not deliver on all three. Hope we get at least one! And I dont count reentry of well at SELH as an acceptable 1 for that matter.
SGY Price at posting:
$1.00 Sentiment: Buy Disclosure: Held
