Shareholders stymied, page-35

As much as I am disappointed in management, there is but one way we can vote.

They have us over a barrel, short and simple.

We vote no. Mote than likely we lose our ability to be in the JV, have to sell at a massive loss and we cap raise again to keep the greedy managers fed.

We vote yes. 3 more years of destructive management, cap raises but a slim hope that we can break even and get out.

What amazes me is that after $279m of capital and six years, we have only one prospect, despite having licences in Senegal, Guinea Bisseau and Australia.

I am going to sit down and calculate soon how much in cash and shares we pay this lot each year until we get to first oil and how much we have so far. something tells me I am going to be less impressed than I am now.