Ann: Senex completes asset portfolio review, page-78

Also, any reason our $850k CEO failed to present at the Good Oil Conference (GOC) ? Especially, given SXY presented last year at the same time.

Ohh of course, you have to have something worthy of presenting at a conference like this. COE and BPT were both able to attend and present, while we are slipping behind.

Ironically, these are some of the points ID mentioned at the GOC last year in relation to WSGP:
• Flexible 20 year gas sales agreement with GLNG at JCC oil-linked pricing - this agreement was modified, such that we are have progressed backwards
• Project to support up to 425 wells over 20+ years - why make this statement, if 12 months later no further wells are going to be drilled. After drilling 30 wells, and reiterating that the wells are performing "in line with expectations", why has there been no further drilling on the remaining 395 wells?
• Targeting lowest quartile operating and capital costs - maybe, I see nothing that either rejects or attests to this.
• Appraisal testing commenced November 2016 (Phase 1) - Yes bravo, 35 wells over a 24 month period now.
• 30 well work program (Phase 2) in 2017 - Yes, and since then, zilch on this, despite of course ID stating the wells are performing in line with expectations, but then also revising downwards the terms with GLNG
• EIG development funding of up to US$300 million for project acceleration - Acceleration? ID actually mentions he was contemplating accelerating the project. Yes acceleration, can require the second derivative in calculus - but it really isn't that complicated. The rate of change should be increasing, but without needing to solve a differential equation, I can tell you that we have been decelerating this year.

With still no outlook, no plan, it is not hard to see why SXY was unable to present with the likes of BPT or COE at the GOC last week.

(And no, I do not hold either COE or BPT, but am keeping an eye on their developments to compare how some CEOs are able to accelerate shareholder value. ID is doing a great job at maintaining constant shareholder value (with both first and second derivatives equivalent to nil).

The position of CEO commands a salary of $850k because it should be cut throat. Deliver or leave ID. I want an acceleration to the number of wells produced (or an explanation as to why this has not been delivered). I have a sneaky feeling that EIG and Mr AZ agree.