SXY 1.59% $3.10 senex energy limited

@slingz The share price does not impact my sentiment in any...

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    @slingz

    The share price does not impact my sentiment in any ways. This could be 20c or 70c and I'd feel exactly the same as I only plan to exit upon full ramp up / production and earnings.

    SXY has these oil reserves that need to be monetised and the share price will appreciate to the level I expect.

    My frustration and inpatience solely relate to the milestones on the critical path to monetisation (being the corporate financing solution and decision on path to market = plan for next phase of drilling).

    Given they are on the critical path, there is absolutely no excuse as to why these milestones are still not delivered. Management should be putting in the hours to ensure this is delivered, as it directly impacts the return to shareholders (timing wise).

    I also see no reason why some of these milestones could not have commenced earlier.

    Ive got all the patience in the world when it comes to the share price (as that is just a mechanism to transfer wealth from the inpatient to the patient), but I am running low on patience on this management team that are delaying the monetisation and realisation of shareholder value.

    The last 30 wells were brought online on 23 October 2017. In the next 8 months, we've drilled 5 wells because we are waiting for this "financing solution". I see this as poor management of the activities on the critical path. Why was this not organised concurrently with the drilling last year to reduce the lag between drilling campaigns?

    I want to see the plan to monetisation and financing solution by mid-year as promised, or it's time for a change in management.

    I'm not leaving this stock, but I will do everything in my power to ensure we have the right team leading us to monetisation.

    As shareholders we are entitled to demand answers from the CEO that we pay. It is now time for Ian Davies to deliver or face the music.

    Tick tock Ian
    Last edited by tt2000: 07/06/18
 
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