Well obviously the reference to "conferences, soccer games and goat barbecues " was being facetious ! Not having access to the company books and I could be wrong but I believe the fifty million is gone without a penny having been spent on exploration !
After having burned through that much cash its pretty pathetic that they then had to float $400 000 in toxic debt just to get a little aerial surveying done in Chad ! And not to forget that they announced acquisition of the Chad block in July 2011 so had lots of time and about $12 million in cash at that point !
I could go on but the money is gone , we are at a sub penny SP and Ntephe is still not taking a cut in pay !!! I would like on the other hand to congratulate anyone who can find it in their hearts to muster a defense for Mr. Ntephe !
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