So summarising, Wade Energy wanted to pay US$250M for a 20,000 acre lease with no reserves. They then planned on spending more money drilling, and hoping to find oil... yehhh ok
I can't believe I had the information in that annual report (albeit with the misalignment of the heading Net Reserves). We all had the information.
Whilst you can argue we had superceding information of an executed agreement with Wade - realistically who was ever going to pay US $250M for no reserves, and then fund an exploration campaign.
The only thing that is going to help me sleep is that Aurora also missed this.
Well played AZZ, well played!
AZZ Price at posting:
50.0¢ Sentiment: Sell Disclosure: Held
