i have kept quite since a senior member recons my posts are worthless and have no knowledge of the "game"
but then if you own a sizable percentage of the company you would be expected to tow the company line and support that line no matter what.
so here we are and the drill rig is being shifted, and management is talking about certain media and 100 barrels.... i thought this forum was the most active regarding information about what is happening...... so its strange with all this "play the game properly" that they mention this 100 barrel stuff from undisclosed "media" reports, and suggest that they are happy with the results so far....... but then its still 3 months away from fracture stimulation.... so what have they been doing?
i posted some time ago that the original driller abandoned the well, then posted that its probably tar sands quality...... now we have the current drillers saying this and that and still no formal results but saying after a month of no information that "stimulation" wont happen for another 3 months.
my take on this is ..... they are having trouble sucking tar sands through a 2km long pipe.
yes there might be lots of it....... but so far they are scratching their heads on how to get the 20 odd mmbl of thick goop to the surface.
re chevron walking away.
regarding paper tigers posts...... if folks read his links they will learn that the indo government is quite greedy.
here is a link,
indonesia's fiscal terms rank amongst the most severe across the world with the government's 86% take significantly higher than the global norm of 59%
http://www.platts.com/latest-news/oi...-draw-27104057
there is huge potential in the exploration that NZO is chasing, but being a minnow in the exploration world and its management and board having a history of elephant chasing with small capital and shareholder support .....(re pike) it seems that this venture could prove to a zero win game at the expense of shareholders who over the last 5 years have been punished.
my opinion is that once the board plays the game in its own league and makes good and steady progress to be able to spend a portion of "profits" on elephant hunting, NZO is doomed to sit on sub $1.50 conversion rates where most of its current capital came from...... at the expense of the investors it encouraged to invest into it.
in my opinion all this stinks.
and the stock is trading on an open exchange with little or no information regarding it current drilling program with advice from the board that Indonesia is the major prospect for the next several years.
what is happening here?
last ditch effort to find an elephant no matter what the cost or political issues?
in this respect that poster is correct....... he did warn us about the potential problems of drilling in countries like this.
anyway..... time to watch ppp and its likely potential.