Well summmarised, only the BPT boys know what they found in the Fermat drill and it significance to P/50 may be held with those results.
Not only that Fermat was only 2D seismic wise, the Bernoulli prospect was the one with the 3D run over it...it pisses me off no end the latter wasn't drilled first and that is the first of many questions the clown management should answer.
I wouldn't completely write off value of their onshore permits, there is some cash generating potential i believe still there. Not company making stuff by any stretch of the imagination, but still cheap drilling versus small fields with good flows equals some coin for the bank account.
Management couldn't give two shits about shareholders, that fact is there to see plain and simple, it's a shame really because as you allude in your post the P/50 permit could possibly contain some monster targets...something John and the boys have let slip through their pathetic fingers it seems.
EPR Price at posting:
0.5¢ Sentiment: Sell Disclosure: Not Held
