For those who've been waiting, n waiting, n waiting for some...

For those who've been waiting, n waiting, n waiting for some feedback from our great leader. Here's a recent reply from SC. He wasn't to impressed with what I had to say. What did he expect, a pat on the back for the great work he's done.

"We published a new corporate presentation as part of our AGM at the end of May and then – as you pointed out – issued our Quarterly at the end of July (a 2-month interval). Prior to my arrival in mid-January, Molopo issued updates far too frequently in my opinion. Our current disclosure frequency is properly calibrated to our activity level. It simply is not practicable (or advisable) for us to put out a news release every month unless we've got something meaningful to say. Given our continuous disclosure obligations (AGM, quarterlies, the upcoming half-yearly in mid-September), we've opted to include brief updates in those documents.

As for the processes to maximize the value of our assets in Texas, Saskatchewan and South Africa, whilst we may have an expectation of when we will receive expressions of interest, the actual receipt of those and their fleshing out to the point where there is sufficient information to disclose to the public sometimes do not align. As for specific interest in any of our assets, I can’t comment at this time.

The Permian Basin is vast: its covers 400 x 480 kilometers and consists of three sub-basins and the Wolfcamp is not ubiquitous within each of those sub-basins. It’s common knowledge that the Molopo acreage is not in the middle of the Wolfcamp play but on the south-east flank; and our results have been reflective of that. I can tell you that two operators (BHP and Approach) with lands proximate to us (and specifically our larger Fiesta block in the south) have not released any data that would change our view of being optimistic that there is more there than we have been able to unlock. Hence the processes in which we are involved. I’m not embarrassed by the views of EOG or any other company. My job is entirely prospective and not retrospective and I must play with the cards I've been dealt. I was brought in to help navigate the company through a difficult period after more than $100 million of drilling did not yield the expected results and was faced with a situation where we needed to decide whether to carry on along the same path or take a different approach. We've opted for the latter and initiated a cash preservation strategy of (a) minimal capital being spent in the field combined with a JV, farm-out or sale of the assets; and (b) a material reduction in staff."