H I wonder who's interests Bruce Watson is looking after? I only have a very small holding in OIP 75% of which I could probably write off at today's price so I haven't been following it too much but I have just gone thru the announcements since inception and I have to agree with you that it has been dysfunctional at board level and I also agree that the GGX debacle was a black mark against Langusch, Edgar and ESG. It is interesting that it was exposed by OXX - I guess it takes one to know one. DC now seems to want Langusch and Edgar back on the board so it is a bit hard to know who to trust. This Energetica proposal also has a smell about it. Duncan Hardy certainly is a deal maker who always seems to come out on top and it is interesting to note that Duncan is part of the JV for the QHGP which essentially passes thru PEL 6 - quite advantageous I would have thought. In regard to flicking $10m in ESG shares I really don't think ESG would need to pay that much. OIP is rapidly running out of cash, it's conventional wells have been dusters and shareholders cash blown and the only apparent value is the CSM of which ESG has substantial farm in rights. This might not be what you want to hear but I agree that the best thing would be if OIP was brought back into the ESG fold.
P
OIP Price at posting:
5.3¢ Sentiment: Hold Disclosure: Held
