" On another subject......a little tip for our management if you...

" On another subject......a little tip for our management if you wish to garner a little support, just a little you should put it to shareholders to agree that you take 50% of salary in shares. Other company directors do it. I could rattle off two from the top of my head now but don't believe in cross-promoting. Considering your great confidence in the future of OBL you could price the shares at one lousy cent and escrow them for 2 years. Obviously this act would be significant in as far as demonstrating your true belief, confidence and so on. Cash burn would be reduced. "

Just dont buy it,with the greatest of respect, only fools would entertain the idea.


More over unlike you, Ive openly offered up to you nwe,who roughly have the same salary bill as us,and in comparison,arent even in the same ballpark reserves wise as us, the comparison worsens as we have at least two viable projects,the Canning and the Gippsland Basin,geographically far apart and in different markets,further de-risking OBL.

Having read some posts of the disaffected ,its clear their blaming Management,for their losses,so far.
I must confess,Ive fallen into this trap myself once or twice.

The wife's and I first investment,was in Matrix oil,the production pumps starting pumping the oil,but a bloody Glycol leak,was costing more than the oil was worth,circa $45.00 a barrel at the time,maybe twelve-fourteen years ago now.
They stopped the production pumps to fix the Glycol leak,and they never restarted,that was our first experience in the stock market.
$10 K gawn.

But,and I use the word advisedly ,holistically,there can be but one ,who is to blame,those of their own volition who chose to buy this stock,or any other stock which doesn't meet their expectations for what ever reason/s.

The stock market is an interface for buying and selling risk,no more no less.

Those who play the game,must be able to take the losses,if it were that easy,uncle tom cobbley and all would be playing the market,and they aint.

I use the word game, appropriately I think,Ive forgotten the trading company name,they were on bloomberg(they all are,arent they),and the guy said.
And I'm paraphrasing;
"With all our knowledge and know how,we lose 51 percent of the time,on our trades,what we've learnt to master, is making up for it on the 49 percent of trades that we win with."
What amazes me is the naked wanton destruction of this company by the disaffected,its just so incredible to watch.
No mention of a lets get 5 percent of the SHrs together and have a special AGM to get rid of management,by way of a vote,just the death by a thousand cuts,by some of the dumbest tripe Ive ever read on HC,and Ive read some,I can assure one and all.
Why look forward to any news?,the disaffected will never be happy,all because of a choice they freely made,just pathetic.


Raider