Ok moneytax here I am.Yes I was otherwise busy elsewhere for...

Ok moneytax here I am.

Yes I was otherwise busy elsewhere for much of the day.

As I have said before if we are going to blame anyone about the slowness on SELH shallow gas fields then you have to lay the blame fair and square at Orchard Petroleum's door.

They held 50% but they were in the driving seat because they were the company with Operator license status. They were the Operator at Jack Hamar shallow gas and also JH 1-1 and 2-1 (the deep Monterey wells)

NEO relied on them to do the business as the Operator and the "senior" partner in the area that NEO had farmed into.
As the effort by Orchard became less urgent and less reliable the AK did seek to get NEO accredited with Operator status in California but it took months as these can with all the red tape.

So let's just recognise some of the operational realities instead of waving our arms about and shouting that AK is useless.
Maybe he could have done things better. We unfortunately are not privy to all the details of what he has had to work on and the reasons for the decisions he has made.

Yes and because of all the shares he controls there is little likelihood of unseating him unless someone in the Board thought they could get him to move aside. Or if some of the major shareholders gang up and put someone else up.

So we will have to hang in there for this year and maybe much of 2009 depending on how long it takes to strike the one that is really going to make this share go up to where we would like to see it.

I keep hoping. I also keep my feet on the ground and try to evaluate things realistically.

Not surprised the sp went down today. Yesterday's announcement "on the face of it" was not uplifting news. But if you read it more carefully then there are positives there.