re: Ann: Molopo Energy agrees to sell Barnhar... murdochjk,I...

re: Ann: Molopo Energy agrees to sell Barnhar... murdochjk,

I have stated for quite sometime now that we should get out of NA and concentrate here in OZ. Many posters were not in agreeance with that, and believed that NA was the one and only way to go for us if we wanted to become reach.

Well, we have all seen how reach we all become by going down that road.

I also stated all along, (and I believe that it was Ravi too that said the same thing), that we should cash everything we own and return the money to the long term and suffering shareholders. So there is nothing new in there.

Finally what is it that you mean about boed and bpd. It is my understanding that boed per day it is an equivalent in quantity. Am I wrong.?? I have asked a friend of mine who is a geo and he said that I am right in thinking along those lines. It then means, from what I have been told, that whatever we are able to pump out of those wells wether it be oil, gas, or whatever, if you put their values together, it then becomes an equivalent of a single product.

As for us doing a takeover of an Australian Company with the cash we have, that was another idea that I myself was circulating around quite sometime ago. But it died of a peacefull death as well.

South Africa was another disaster in the making IMHO, but I don't wan't to go down that road anymore. What is the use. :-(

As such, I do agree with you 100%. Get out from NA altogether and get back here. We have some good oil producing tenements here in Australia. And we have some small oilers looking for cash to either merger with them or doing a good JV with them, at our conditions. I could name a few but, what's the use.

There is just one more thing that you should ponder. Take out the CS which is still in OZ (Melbourne), and then tell me who else we have got in this company that is Australian.?? Even the Chairman is now from NA.
And, how long has it now been since we put the bit of the drilling rig on the ground.??

In the meantime the sp is going down, and down, and down. And why shouldn't it when no one, nor the market, knows what we are doing or what we are going to be doing next down the track.
After all, when the MC of a Company is below the value of the cash at Bank, let alone the assets and the O&G tenements, that is time to express some concerns, and/or ask questions. IMO we are just being led around the garden path while looking and/or smelling the roses.

Is there a method in someone's madness.?? YOU TELL ME!!!

Good luck.