I think you both have valid points, the company can increase...

I think you both have valid points, the company can increase production by using existing finds like WL, hopefully economically to produce say 4000bopd, pay dividends that are significant ie 1 to 2c, based on the earnings of the 4000bopd and use a percentage of the money to look for the next elephant oil field.
It is trying to find the right balance that's important. Surely if a balanced approach, more conservative mgmt approach was taken it would be very easy to see the share price hit 10c with a second or third producing field and dividends that are significant.
Its the kid with a drill story versus the dentist with a drill!!
One just likes to drill holes because it is fun and the other takes your money and gets rich!