Buccaneer Energy Ltd. (fka BCGFQ)

[davo22]

"8% shareholder would see full board control is because they have a plan. Probably not the plan you and I would like, but it is a plan."
Maybe you dont like to make money but I suspect that is the plan...The 3 directors are well known in the Australian oil and gas patch and I doubt they would destroy there reputation for investors they have never met......

They are not coming to take the company over...

"...that they are willing to do whatever it takes (including diluting themselves) to get money"
Considering there annual salary far outweighs there holding in the company, I dont believe there interests are neccesarily aligned with holders, thus explaining 900m share offer...

"It also says that the situation has often been more dire than they were willing to let on."
Surely you dont take comfort from that??

"Or current management is maintained and dead weight is cut off. (after they raise money)Or the whole thing is screwed and then nothing will help."

Or maybe they end up raising money at such a low price it destroys the potential upside..IMO the safest bet is to go with the team that will have access to capital and will clean out the rot if any exists...