shareholder meeting, page-49

"My guess is management was not happy with last years lack of performance bonuses/shares despite dropping from the year before so didn’t do their job hoping for a more sweet deal this year."

Are you implying that management (of Melbana) were so, so bitter about their remuneration from the previous year, that they purposely "slacked-off" in the current year? Are you serious? AP has just as much "skin in the game" as you do (in fact, a hell of a lot more), and to suggest that he "sandbagged" this year due to bitterness is quite out of line.

Yes - things have not gone well. Got it. But to suggest that there was someone some sort of deliberate slackness or deliberate sabotage is crossing the line. No wonder when Melbana staff read HotCopper they shake their heads.

Time for a change of management? What would you do differently? (seriously, please answer that). I honestly doubt that any of the keyboard warriors on this site would have done any better job. No, I'm not praising him (AP) (sure, the company has ballsed-up a few things), but to suggest that the team are incompetent (and therefore required replacing) is probably a step too far.

Let's play the ball, not the man. A3 caked due to incorrect mud mix and/or pressure (or something along those lines). They got it wrong. And they are currently examining ways to remediate it. They also need to increase flow rates on A2 (the peak rates were good, but it seems that it loses pressure over the testing period). Already there were mentions of horizontals (as used elsewhere for heavier crudes in Cuba), and we are yet to see the plan for "A4" which will come off Pad2. Perhaps planning for this is currently underway?

Couple of key questions probably need answering:

1. When is Sherritt#1 being moved to Pad2?
2. What financing arrangements are being discussed (or have been finalised?) for the next drill? Farmin? Self-funding? Sonangol? Off-take? Who knows.
3. Timetables, please.
4. A2 flow rate (stim). Details please.
5. A3 remediation. Labs? Third-party experts? Details please.

Regards
Kit