As a shareholder myself along with my supporters I fully can appreciate your frustration with the drop in share price.
I am at a lose to explain the present share price other than the sheer market shattering that has occurred and in particular most hit hard are small cap exploration companies.
The ability to raise capital and access to debt are the most critical corporate issues that a majority of companies are facing today.
The Board have collectively tried to position Quest in a position where our operating costs are as low as possible whilst retaining the people necessary to drive the Company forward and have used option incentives as opposed to cash to drive our team.
The transformation of the Company is slowly taking shape.
Once we have evaluated the 3 resevoirs in the bullseye structure the Company will hopefully have a significant reserve base with a strong revenue base. Its our view that this would be the time to commence marketing the Company. In the interim the Company is supported by a number of brokers which are kept abreast of our activities.
I would prefer to get Broker support, but would consider making presentations to oil conferences if there is strong merit to do such things. To be honest I would prefer to concentrate on our operations at this stage.
I am unable to guarantee that any of our future wells will be successful, what I can say is that a significant amount of effort goes into project review and the team that reviews the projects have the relevant skills (ie qualified geologists and engineers that have significant experience).
I am meeting with the Operator of Kreyenhagen next week following which I will be able to provide a more detailed update then. I can say that no steam injection trial plant has been built.
I am not able to comment any further on our partners working interest movements or their funding. I am hoping that we can see some resolution here which should free the SSJV up for activity.
I appreciate your support and the next time I am in Melbourne I will let you know.
If you could send me your contact details that would be great (email is below).
