The company has correctly sat on a cash pile for several years....

The company has correctly sat on a cash pile for several years. But over a year ago they indicated that deal terms had entered acceptable territory - but were still looking for the right one.

There is no shortage of deals being done - and companies are now, once again, able to raise money for develoment drilling on the market. So why are GBP still waiting to do something? Have they missed the boat and now find terms worsening again?

There is no upside for the 40%+ shareholders to carry on slowly burning through their cash on admin. So what are they waiting for? They must have seen hundreds of possible deals by now - and looked quite hard at dozens of them. Are they inept when it comes to actually closing deals - or are they being unrealistic? If they are ever going to get a value-added deal done, then surely the time for it must now be very close?

I got back in the shares last summer - much too early, it now seems. Really very frustrating indeed, especially as others in the sector are now getting on and drilling again...

Has anyone tried contacting the company lately? What sort of play are they waiting for?