sychelles for 2 years and nothing, page-10

guys seriously...

ask away...

but its been made as clear as possible and if it is not clear to you, well perhaps thats because it was said in a vague context so that irrational minded people gradually realize the outcomes of the announcements

1) why is this taking so long>?

Well i can tie the answer to this along with the questions regarding 2D and 3D...The data that we have to date (2d) was considered by our management to be enough leverage to go into the JV talks....we said that we needed 3D but the lack in their better judgment they got THAT ONE WRONG....

2) ETA...I believe you are correct to ask about this as they have collected cash but neglected to specify the time the expenditure will take place... i believe this may be because with the uncertainty in the global markets and cash being ever so important, perhaps delaying of 3D is a risk management measure they are taking to curve any future problems with CAPITAL if hell does break loose in europe.. only they know, but yes this should be clarified to SH but i can perhaps see why they are restraining from it...

3)Moving forward, companies plan...well i think i mentioned that in one of my last posts regarding the next expected news to come from management.. but basically i would suspect it to be actual clarifying announcements for all of the things you have mentioned TWIX...

4) JV Partner...this is where i get annoyed with management, every tom dick and harry knew that 2D wasnt going to be enough to deliver a JV agreement for the seychelles of any WORLD CLASS RESULT... i think management received a rude awakening when they finally sat down with these "multi billion dollar companies" and have been reluctant to clarify more regarding the matter without jeopardizing their untainted image thus far... hence they have alluded to the need for a 3D survey and leave the rest to our imagination...i cannot see what other reason they would have decided after 2 years of pushing 2d and suddenly turn around after the data room has closed and ann to the market we need a cap raise for a 3d survey... but again they have alluded and not stated these obvious grey spots, so that holders that are only partially aware of the history of WHN do not get spooked..

ultimately i still think that by not signing any agreement on the back of the 2d is a responsible move and they are trying to correct their mistake...this is a potential world class deposit, they have recognized this and have not rushed in to signing any thing...at least they are unlike most management teams of specs that would just sign to get that announcement out and not worry about the terms...

5..Drilling??? way to soon for this... perhaps as a courtesy they can dig into shells plans for drilling palta-1 and give us an update of some sorts as things change and not leave us to resort to our own research skills...

seychelles drill would depend squarely on a JV, untill that time it will be a waiting game



Ive given my 5cents on the matter.. but this is in my opinion and if your opinion does not go into this depth of analysis of the actions from management then i would urge you do so that an educated decision is just that, an educated one and not one of just the appearance..