Lnc has a very poor track record when it comes to oil. Head of...

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danhold

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18/10/14

12:08

Post #: 14143890
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Originally posted by tesio_nz ↑

There is no doubt Peter Bond has worked hard and built up some strategic assets but for all that he has tried developing too many projects at once instead of staying focussed on one or two ...The end result is that the company has thrown vast amounts of money at diverse projects many of which wont produce returns for some considerable time whilst incurring debt which is unsustainable without sufficient income.....clearly there needs to be a change ... .Changing the CEO is a step in the right direction ....Bond undoubtedly is a smart engineer and entrepreneur but he seems to have lost the plot a little.....we are now in the position of selling assets at less than desirable prices ....its now a buyers market ....its unfortunate we weren't able to retain the Adani royalty on the original terms ...that 120 million per annum would have been a boon to the share price for sure....hopefully management are able to unlock the value in the Arckaringa......if enthusiasm counts for anything it shouldn't be too difficult and Bond still exudes plenty of that....if they are able to advance UCG and sell the US assets on favourable terms to reduce debt it is still attainable....The value of Umiat is surely enhanced with the proving up of the field and its quality ....if they focus solely on the Arckaringa and UCG going forward then there will be time for other projects farther down the track

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Lnc has a very poor track record when it comes to oil. Head of oil and Gas sacked and not replaced!!; Who is driving Oil and Gas for the last 6 months? Craig Richito? LOL Bond runs everything period.

LNC Price at posting: 99.5¢ Sentiment: Hold Disclosure: Held
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