Phils' management style is much more risk adverse than the boom...

Phils' management style is much more risk adverse than the boom or bust mentality of the previous bunch, but by focusing on generating income through existing fields and being patient with the exploration he can generate real wealth.

The business is undergoing a transition and a good clever one I think to hole driller maverick to income producing risk managing wealth producer unfortunately it is not reflected in the share price. The capital raising is what has had a very negative effect on the share price but I dont think that will be forever. All that cheap money is being used to play games with the share price.

There is definitely a shake out going on for long term investors but at some point that will end. IMO

Obviously he has some obligations to drill certain exploration wells as per Bara SC63.