Cottee retiring, page-37

or up, and who knows.

Most of the posters seem to have no idea of how a CEO and the rest of the board function. If a board decision goes against the position presented to it by the CEO, the CEO has three choices: Resign immediately, or, if he/she is concerned for shareholders, more likely, announce retirement after a period which allows a replacement to be found. or accept the decision, and work to make it succeed, but as in cabinet solidarity, abstain from public adverse comment. Or, if it is a point of honour, try to roll the board with the support of some directors and or key shareholders.

We have no idea what the situation was with the MB takeover. My take on it is that RC was not a strong supporter of the MB takeover but that it was reasonable to go along with it at the time. After all, the share price has not been too close to 20c plus upside since then. There were also a few ducks not in a row then that have since been lined up (I know. Some newly appeared clairvoyants here believe, absent any evidence, the share price was artificially held down by something other than traders, or they have secret traders knowledge that great doom is almost upon us - sheesh!).

As to what is happening now, who knows. Illness, personal matters, or just that the company has been placed in a reasonably survivable position due to RC's strategy: cash flow positive, NEG gas sales coming within a couple of months, new growth possibility in QLD coal seams, fully carried (largely due to RC), and more than 20M plus in the bank.

I know this is a spec stock and an oil and gas one at that but speculating about drill results, geology is one thing. I much dislike speculation that reflects on individuals sans any evidence other than paranoia.

Of course, I hope for another 17 bagger, as QLD Gas was for me back in the day, but would settle for a new MB takeover because it would be bound to be north of 30C, even without a successful drill, given what is coming in the immediate future.