Well said ciggies, have to agree with most of what you said.I...

Well said ciggies, have to agree with most of what you said.
I like you wasnt a manga supporter, but when it was announced that manga would be drilled, i was happy that some form of drilling was under way. It just seems like there is too much time between drills and testing at the moment.

As far as the corporate expenses are concerned, i share your concerns about the wage bill, but i look at it like this. Directors havent got many free shares in the last two yrs, so incentative based employment isnt working well for them, so you will see directors getting more income from the company than equity now. Personally i think the board is too big for the activites taking place. Really only one partner now instaed of two. Two oil finds, and no prospects, compared to 6 prospects before.

Whats concerning me the most is, the company doesnt appear to be actively seeking aditional blocks in brazil, or interested in ever become an operator, or buying out another company. I think management want someone to buy them out. That tells me management think someone else can extract more value from the assets, than they can.