Capital Requirements
I have 30 years experience in the oil industry and new to this board. There are many concerns I have about this operation and the posts on this board. Why was so much spent on an internet site rather than just focusing on exploration like most no non-sense oil companies would? Why wouldm't an IOC, International Oil company jump all over this? They have tackled many much more difficult places? Anyway, if the concession licenses where still in place I would assume there were tax write offs and value of the seismic records so I jumped those huddles and became a shareholder.
Though currently there is a credit crunch Mr. Bendall must be very driven on doing this himself because capital can be raised if you're a respected oil operator. An AFE of USD10M for two wells is nothing. I could raise that with seismic records. If he can't raise that easily and there is a big find, proven reserve or not, where is he going to come up the the USD1,000,000,000 to develop the field?
KrisEnergy the small group of experienced guys in Singapore just reaised US500,000,000 to take over marginal fields in Southeast Asia. Previously they did this quite successully starting Pearl Energy that was eventually bought out by Abu Dhabi interests. Quite successful for management and shareholders. If there is so much in this why isn't A. Bendall giving up a little and speaking to small operators like this? I confirm I have no association or shareholdings in KrisEnergy.
Yet.
AI
