The last time Neil went for an R/S I congratulated him in my mind. I know this is a very touchy subject but I also know that Neil's one regret is that the R/S did not move forward. I know I am going to anger some but that's the way it is.
Often times an R/S is done out of desperation because a play has diluted in their attempt to find something and find it difficult to get funding from pps. because of previous dilutions.
Hoov has a point. One must look at things from Neil's perspective. He is a bit of a self thinker and I believe wants to drill. He needs funding to drill and any pp would just make matters worse. Also there will come a time to sell and with all of those shares, how much will each be worth in a buy out? Is this the reason the sp can't surpass 12 or 13 cents? Are they or anyone even ready to offer that?
SPQ has a great resource. With all of what is in the ground, a R/S would work. One would have fewer shares, granted but on the other hand those shares would be worth a lot more and when Neil goes for a pp he will get a reasonable amount of funding for fewer shares. What does he get now or how many shares must he give out to get a few hundred thousand dollars. Geez the shares compound after a while and further dilution is a bigger enemy than a R/S IMHO.
The R/S IMHO was defeated by mis informed shareholders back then. Do not remain mis informed this time. An r/s is like a cancer healing therapy for this play IMHO so I would say, don't let anyone scare you. Neil is not a stupid man. He is a bit of a maverick which I like about him. give him credit. He is running the company and making the decisions as opposed to a few posters who think they know more.
It was Neil I saw in the picture receiving an Award along with some other great players. For a CEO to achieve that with a play diluted to the nth degree is truly amazing.
IMHO this will be a very big win win situation if he pulls it off.
Sorry to those I anger but I had to put the same two cents worth in I had when the last R/S was announced. The play demands it now. The dilution is the cancer.
Don
