My Response to Gibby
posted on
Aug 12, 2013 12:10PM
Multi-Billion Dollar Agreement Signed With Oman
Your frustration is entirely understandable and shared by all shareholders including management. It should, however, have become apparent a long time ago that this is a very unusual "business" opportunity. It is unsurpassed in my experience in boldness and sheer size of upside potential. It is also unsurpassed in the ability of the Omani government players to avoid making decisions, which has been raised "to a high art", to quote the latest 10-Q.
However it is simply not true to say "nothing has changed other than the excuse". The latest 10-Q is anything but "tired excuses", but a masterful presentation of the poltical and financial context and history of this project. Read it again. It is not "guessing" to say we are closer. It is a logical conclusion from the presented facts. Yes it has been years, and the sweep of the 10-Q covers those years. Can you honestly say that management should have been able to predict the events of those years? The start has been balky and frustrating, but after all we are talking about Billions of $ and national and personal prestige in a part of the world that is exceedingly image conscious and not especially in love with America and our brash and bold methods. In that context, I would claim that the progress to date by this NY based company with limited resources has been absolutely amazing. The situation "is what it is". Management has been anything but dissembling and disserves our full support. Vote with your pocketbook, either in or out.