I thought the announcements this week were pretty good and...

I thought the announcements this week were pretty good and setting the Company up for a solid future. No-one has really lauded the wonderful grab of all of Vic/P47 which seems even from Perth as a seat at the table of the East Coast Gas cauldron that is heating up. While the ever increasing OBL resource figures show that the Company has more definite numbers than Buru has announced, and certainly more than the Prime Minister!

They are getting on with the Derby Block, notwithstanding the truculence of Backreef Oil whose non-participation could be by direction from Buru, which is certainly something the OBL management should not have to bear. In fact the pressure on the OBL share-price seems to be correlated with that of Buru, which is not surprising, but once again not management controlled.

All this bleating. We all need to remember just how small the capital base of OBL was and is. This is a 'speccie' not BHP or Telstra and management needs to make the coffee as well as do the deals. If we want them to bear pain, what about some concrete suggestions. Simply saying cut salaries is marginal at best and implies we should have professionals, who bear the onus, on minor public service salaries and repeating every sunset the mantra mea maxima culpa while flailing themselves. Some things are beyond Company control.

Nevertheless, I will start the ball rolling by saying the board could suspend payment of all directors fees until the Company has a solid $500K in the bank for a quarter. Your turn.