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Boz2112

1,021 Posts.

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19/04/15

20:20

Post #: 15115199
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Originally posted by Albuera ↑

JB

You are spot on ! At the end of the day it's about results. Looking back at the results of our management they could not have stuffed it up any worse if they had tried.
When you mix managements arrogance, lack of insight and disregard for reality it's not surprising we are on our knees. It's always easy in hindsight but the loss of the FMG deal was really unbelievable arrogance, lack of insight or virtually stupidity on managements part.

Here we had an ASX major, Twiggy Forrest willing to partner up with us. I remember at the time thinking we really had something of value that others want if Twiggy wants to get into oil and gas via OBL. We all knew we needed a major partner if we were to ever fully exploit our assets and succeed. A little gas and oil micro speccie given an opportunity to succeed with the power of Twiggy Forrest backing them. When you mix arrogance with stupidity you are guaranteed to fail.

I haven't been feeling angry about OBL for a while now because I know......................you need to let it go. Thinking about where we might have been heading had we partnered with FMG still makes me a touch angry.

Any prospective suitors know we are on our last legs thanks to our managements decisions. All they need to do is patiently wait for that fire sale price.

It really is such a waste. In my opinion competent management would of eventually succeeded even in this bearish gas/oil environment. Our management have demonstrated quite clearly they were not up to the task.

I just wait now......................

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Agree with the management waste etc but would have to say the FMG deal wasn't there fault right, FMG walked away OBL agreed to all their terms. Definitely dropped the ball on everything else though, OBL won't accept "low-ball" offers unless they are from Lind funding - its pretty much exactly the same thing.

OBL Price at posting: 0.4¢ Sentiment: Hold Disclosure: Held
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