Hi all.. Was once - some time ago- quite positive on this Coy,...

Hi all..

Was once - some time ago- quite positive on this Coy, now neutral . Have held stock many years.
PEP 11 to me seems doomed with present Govt's plans to can any fossil fuel development. Maybe one day someone with an 'ounce of common sense' will realise (see next points) that oil gas etc cannot be removed from 'general living necessities for humans'

Gas -Oil -Coal are imperative for humans to survive, briefly and simple talk (food for thought) :-
-fertiliser - for food etc all types -veg-meat etc
-fuel - pollies will need row boats to travel o/seas, no more planes. Bikes to travel local interstate? Electric cars (they need lubricants?)
-lubricants - machinery - food mining -travel !.
-plastics - no more mobile phones, furniture, medical devices etc etc etc . OK paper bags - nope need machinery to cut trees and mfg paper ?
-mining stops as machinery need lubricants -?

If looked around one's home and looked at all items -constructively- which ones did not originally come from some form of mining ? Very few !

One's choice as to blame previous Govt., should they have approved but not developed - present Govt would stop it. Blame games make it easier for one to stomach/justify any outcome. However Management and other Coy's Management had 10 years to do something, apart from drawing their salaries! Yet zip! Have mentioned this many times before.

Purely my opinion and my change of sentiment :-
-Poor Management of operations and their record of ' we get paid anyways! '
-Share placements to shore up funds .....and to help .... ?
-BUY does get a smidgen of oil and from that $$$$ - small as it may be. Possibly increasing ?
-Seems that BUY may get some drilling done in next months years or so? (from past record)- years maybe.
-Large quantity of shares on issue - and this may have to rise further, diluting shareholders value- again. Who cares for shareholders?
-Oil is in demand with price rising but BUY share price heading south. Time to blame other factors, maybe!
-12 months ago Share Price $ 0.0180 19-7-21
- now Share Price $ 0.007 5-7-22
- Negative 61% (% ? please check) with oil price on an upwards journey !
-Blame covid and/or now market sentiment , why not?

Maybe one day BUY a reasonable buy - but now ?
When one looks at the Balance sheet and analyses the Income and Expenditure there are many questions in my opinion? Wonder how many do this exercise? The Depreciation figures (book entries not a physical cost !) one area to analyse ??

Maybe BUY is a Coy ripe for a Management buyout at a loss to shareholders- again my opinion. From my understanding it is a great little 'cash cow', when one does analysis and removes 'actual non -cash- costs'. Also ' Management salaries ' and other items that may be added back to the bottom line to asses Coy's real cash available. Rent seems excessive for a Coy with little need for a 'big floor area' or City location ?

Happy to be corrected.










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