Chillam,
thanks for getting involved.
Let's get down and dirty.......
firstly, no mal-intent here, I enjoy the debate and no malice is intended.
1. The 76 well was 'managed' by Bruce, I concede that point. What you may not know is that RM was openly declaring himself as the only 'engineer' in the company and in fact ''told' Bruce what to do. how do I know? I know the Indian partners well and they made it clear to me that RM was calling the technical shots. I also know the consultant in Perth that gave Oilex the technical advice, they told me that RM was making all the technical decisions on 76.
2. Ron did not 'step in' on the demise of 76, he in fact led us into the demise. He then hired this Maloney fellow. He told me he left as a result of a total breakdown between him and Ron. No love was lost. Perhaps he is the reason that the well on 77 has a simpler strategy and Schlumberger. But he left a long time ago and is therefore irrelevant to current actions.
3.. the 76 failure was not because the well pipe split. it was because the contractors milled through the pipe instead of the ball seats, because of poor leadership and design.
so now, at this moment, there are no new people.
but the 76 issues have been fixed, the problems encountered on 77 were self inflicted
anyhow, my advice stays, be careful with your money, sell wisely.
I have sold out, at 13 cents, so maybe you will enjoy that. made 50% profit. all profit is good profit. Still have a few oppies, so my heart is on your side.
nevertheless, any criticisms are taken in good faith and spirit. I hope you all make gobs of dough.
OEX Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
