Lots of great posts in the past couple of days. Thanks everyone, no matter what your point of view. Here are a few quick thoughts just from skimming the posts of the last couple hours:
BBQ: Does anyone have a better idea [about why this change of face]? I do, and I don't like it. Maybe this switch to drilling, which indirectly means a switch to increasing the value of the stock, is an about-face and they're thinking about getting the price up for a takeover bid. I hope not, and I doubt it, but it is one thing to consider. Another idea which would be more palatable to current shareholders is that maybe they're trying to get the value up on the reserves to be able to use that value as security against more long-term debt. For all the comments about further dilution in the next year, I'm surprised that nobody has brought this up.
Martin: Jurek's posts can be construed as negative, but everyone has an agenda. Some more hidden than others, some plain as day. I hold shares, and I want them to appreciate in value. If I was foolish enough to think that my comments could influence the SP, then I would probably make all kinds of negative comments. It would be great if I could actually drive the price down, so I could drop another $20g and pick up just a few more shares from my bashing.
Shi Ming Sen: I'm pretty sure that a lot of seismic was done a few years ago, maybe around 175 km? They've got a pretty good idea of what could be underneath, and I think they had about four or five separate potential pod areas isolated. The devil is in the details though ... drilling is what defines reserves. Mind you, I was happy to see the seismic info. Again, this goes back to realizing that there is probably a schwack of recoverable bitumen in place, and they just haven't touched on defining it yet to prevent takeover bids. I don't mind management being greedy, if I'm able to be smart enough and realize what they're doing and ride their coat-tails.
