Yeah you are right they sold 891K more gas in the first 3 quarters of this year than the same period a year ago. At that rate they will sell less than 2.5M for 07.
Based on the results announced on the wells in Weestche we should be producing far more than this. I understand that they may have had issues with finalizing and tieing in the wells. That is where up to date production reports would help. Not all investors can decipher all the O&G lingo but everyone can equate dollars and growth to ascertain if we are seeing growth.
At least investors could guage what to expect. Obviously the market is not too exited about the numbers so far in 07. Maybe this explains why the Asian development money is not flowing and now they have a seat on the board and a IR person dedicated to Asia. It also explains why they bought a drilling company maybe the Asian's are tired of waiting on their O&G royalties. I don't disagree that their appears to be a lot of potential here but the way and the quality of the reporting this company is doing to the Market is not helping the shareholders that got them here.
The CEO needs to kick it up a notch and let the market know what is going on. 1000 BOE per day net to the company is what they said they were producing at the shareholder's meeting this was based on $55 per barrel according to the CEO. That is almost as much per month as they have done for the year so far and more per month than they did all of last year. Why would you keep this close to the vest and not announce it? The market is waiting for O&G revenue results as are the Asian investors in my opinion. When they prove their ability to hit the pay zone and get it to market the price will go up until then we are stuck here.
You talk about DD but all you really do is speculate about rumours. Over the past year you are batting zero on your speculations of course so am I but at least I am looking for some hard facts that will prove if there is something here.
As far as the Asians go the most plausible speculation is that they want more control over their investment, hence a seat on the board and they are dissatified with the level and quality of the info they are getting so they have set up a seperate IR firm to handle it. That seems to make the most sense.
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