I've been following the BUY commentary for many months now...

I've been following the BUY commentary for many months now and feel it's time to add something to the conversation. I've been an oil and gas investor for over thirty years and have previously been a top ten shareholder in both Bounty and Drillsearch. I've done particularly well out of the latter but made nothing from the former, thus far. Consequently I've know a number of the major players and executives in both companies, including Phil Kelso. Phil is an extremely competent businessman and CEO and knows how the small stock oil and gas play works. He is not wasteful with company funds, in fact drove a fairly plain Ford Falcon for many years to my knowledge and didn't splash around a big entertainment budget which was kind of rare in the sector. He works hard for shareholders interests which includes himself as I gather he'd still be one of Bounty's largest shareholders thru multiple entities. His one failing in my opinion however has been as architect of an endless number of cheap capital raisings over the years at the expense of other shareholders generally. These raisings, including the recent one at one cent, always favour friends and associates of Phil's who support him in retaining overall control of the company. Perhaps you've all noted that the largest recipient of stock in the recent raising was Barry Sheedy and Associates. Phil and Barry have been close friends since the nineties in Drillsearch days. I could cite numerous other examples of Kelso playing favourites with these cheap equity issues and it was the reason I decided to end my association with Bounty and ultimately Beach when the Stokes family assumed control through the same process of cheap equity raisings at the expense of minority shareholders. I've bought back into Bounty in recent years and so have an interest in seeing a positive outcome generally with the company and PEP11 in particular. I've always thought it was the hidden GEM in the portfolio and can only hope that Phil and his team have the capacity to take it somewhere useful. I wish you all well with your penny dreadful investments such as this, however if you're going to obsess over the endless cheap issues, I'd suggest you get out now as it's a fact of life down at this level. Keep the comments coming but try to be informative and productive and kind to each other.