I bought these at 11.5 and sold at 7 cents. This is because...

I bought these at 11.5 and sold at 7 cents. This is because every quarter the huge production profit they make simply goes to 'administration'.

These guys amaze me. They are not shy to make 500k in the qtr on production and PAY 500k on 'administration'. What the ef admin do you need to pump oil out of a half dozen old working wells.

They have offices all around the world and fly themselves here there and everywhere. I wrote them a letter and told them I thought it was not right to spend the profit on directors salaries and directors travel. Lord knows what other 'perks' show up in admin.

Soon there will be no buyers and these guys will quietly wind up the shop, knowing they have legally stolen the shareholders money.

Ouch.