Just as one keeps, one good chocolate till last to savour, as the chocolate box empties, I have up till today resisted reading, your post, with so many thumbs up.
Can I say at the outset, what a brilliant post, pushing all the right emotional buttons, while offering no empirical evidence to support your proposition.
Low salaries equals successful spec oil & gas companies.
My personal opinion is that management could have made some short term decisions which may have lead to a higher SP, in the short to near-term.
However I don’t believe it would have been to the long term advantage of SHrs,quite the contrary in fact.
While the outcome of the SAT decision is, not in management’s hands, IMHO they’ve done a good job to get us in such close proximity to bru, should things go our way at the SAT.
While the downside is significant in the Canning Basin, should the SAT decision, not go our way, again management haven’t been idle, they’ve developed the Gippsland Basin assets into something rather significant, IMHO against the backdrop of East Coast higher natural gas prices
I wonder what the coe announcement is all about?
It’s your prerogative to look at the costs of running this company, just as it’s my prerogative to look at the potential recoverable reserves.
I gave you far as an example; the amount of shares on issue isn’t a barrier to running an oil & gas company and providing SHrs with the opportunity to make money.
So in difference to your Utopian view of an Spec oil & gas company, I offer the more realistic approach of a “ Spec stock ”,”damn the torpedoes and full steam ahead,to the victor the spoils.
Either way the SAT decision goes could be a trigger for a takeover of OBL,I aint losing sleep over it.
Raider
OBL Price at posting:
0.5¢ Sentiment: None Disclosure: Held
