Totally agree Geezer, glad to hear some logic rather than false hope. This things about as legitimate as a self propelled flying pig. I for one am taking absolutely no increased confidence from the directors dropping $11k and $8k into this. This ain't Woodside Petroleum folks, there's director buying and there's director buying. My only hope is to exit close enough to my entry that I don't lose too much oppoortunity cost from not being in cash.
I eagerly await the directors next snowboarding/surfing trip plan so they pump this piece of junk again to generate enough growth and volume to sell into. Who's seen Point Break - "one last job before the summer maaaaann"??
As for Barnaby stumping up $550k and then a further $900k to convert his options - good luck with that. As Geezer said, he'd then have to pump this sucker to 2c to make some decent money for his next junket.
I've got no one to blame but myself for falling into this mess, but please, don't kid yourself that these guys are going to produce enough oil to drive this rust bucket out of the bog where it currently resides.
Please prove me wrong.
FUT Price at posting:
0.2¢ Sentiment: Sell Disclosure: Held
