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Thursday, September 14, 2006 2:17:27 PM
I do not think that Offor wants to build a major oil company. It is just too long and far too complex to manage. What have we seen so far in terms of hiring oil professionals, or other activity, to build this major oil company? Nothing. Offor's only concern seems to be to keep his overheads down, no investment in the future whatsoever. Offor owns a huge asset and wants the highest price for it. And he knows that proven oil is five times the price of probable oil.
With regards to Jean-Claude Gandur, who singlehandedly build really succesful Addax Petroleum, he declared that he would like to have more time for himself and for his hobbies, like his Egyptian art collection. Understandable given his age.
You draw your own conclusions. Just my 2 cents.
GLTYA
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