Ann: Company Update, page-5

Excellent wrap up but a couple of things left out.
If I remember correctly Merric Capital was granted the Ranau PSC and then a reverse takeover took place into Quest. So in essence Nuenco/Quest was no longer.
The path going forward into Ranau was very rocky with little explanation of what went wrong but IF the company had drilled, as we all wanted them to, the chances were, due to all the circumstances the company would have exhausted all funds and be dead as would our holdings.
Mind you as with all oil and gas companies there would have been a number of holders hanging in there for the initial rise of the drill.
Then off to Canada with obvious advantages of jurisdiction. Oil price plunges world wide and due diligence suggests the Oil Sands project doesn't add up. Again the company could have gone head on and ended up losing the lot but it has survived to fight another day. Again a chance of short term gain for some goes astray.
All along, holders of this stock have had the choice to back the companies vision and continue to hold or to cut their losses and search for another opportunity. Most of us continue to hold but at every turn we should be assessing the value of our holding as it stands, against the potential of this stock and compare it to the many others that are available. That way your vision is current and not tainted by the past which in essence could cloud judgement.
The past would be relevant if you didn't have an opportunity to sell at any stage which of course we all do.

The only equation for me is whether I think there is worthwhile opportunity of the company advancing with something worthwhile based on the figures below

1.86m in the bank
90k cash burn per quarter
157m shares
2.04m market cap.