joint venture alert., page-14

kalmsg,
Thanks for your thoughts on Tanzania.
What i have a problem understanding re the Tanzanian investment by Ken Russell and his board is why are they now attempting to sell this operation when only a few weeks ago they were telling us that the Songa plant issues were coming to a head and they expected the expansion approval to get the ok very soon?
Also he was telling us that Mobil and other major oil companies were moving into the area and that there was an exciting future with Tanzania becoming a major exporter of LNG in the future.
His presentation back in April had as a footnote a seedling growing into a mature tree, it appears to me that he should take heed of his own philosophy in respect to the Tanzanian venture???
I am at a loss concerning his management strategies as they appear to be knee jerk reactions.
He is continually appointing "expert consultants" in the past, Tanzania to negotiate with local industry leaders, and now in Italy. Lets hope the Italian "expert" is more successful than his Tanzanian counterpart.
Shorly on past performance records Tanzania could not have the same lengthy delays as we without doubt will experience dealing with Italian authorities.
I am not in agreement with selling out of the East African leases and the only reason i can come up with for Ken Russell to come up with this rediculous decision after all this time is that he is desperate for the cash that this sale would bring to the company albeit at a great loss to all shareholders.
Regards,
dapper