Just reading through the Annual Report - and just some initial comments.
They are still looking to divest Tanzania - which I think is a very bad mistake for the company to make. That is where the shareholder wealth will be.
Bottom Page 4 - they say looking ahead - 1st Acquiring additional oil producing assets; 2nd improving assets we already have; 3 focusing on specific areas and countries for growth ops; and my favourite: 4 Always remembering that we are working for the benefit of all shareholders as we make our decisions.
Gentlemen - if you were working for our benefit - then keep Tanzania. Afterall that is what we all want isn't it? That is where our future growth prospects lay? I tell you I'd be really annoyed if we divested, and Nyuni 2 struck the oil reservoir causing the seep on Nyuni island.
Think they have 1 and 2 around the wrong way current. We should be getting what we have sorted out, and then look for new opportunities!
Is anyone going to be attending the AGM? Maybe someone can voice our opinions about that particular divestment. Or maybe we should all hope they don't get 'good offers' which they are chasing!
Just my view!
KEY Price at posting:
4.9¢ Sentiment: Buy Disclosure: Held