OSH 1.55% $6.35 oil search limited

png pipeline customer, page-15

  1. 831 Posts.
    I repeat my previous caveats on any of my postings. It is based on research and careful research at that. I am not dark on any particular stock,but am prepared to report those aspects of a company's behaviour or its performance that their boards and major shareholders and even their brokers and bankers conveniently ignore or consider unimportant.

    In 1989 I began a piece of research on the dangers of Australian companies investing in countries like Indonesia, China and Papua New Guinea where the laws are alien to Australia's own which provide rich pickings for the types of companies that have directors and board members capable of dipping into the till.

    Papua New Guinea may have laws similar to Australias and New Zealands (where their corporations law comes from). But constant and consistent degradation of the rule of law has meant that whilst opportunities abound there, it is for the wrong reasons that small mining companies and large alike go into that country like they did in Indonesia with the resultant Busang.

    Executives of major and minor mining companies in PNG and Indonesia have fattened themselves illegally at the expense of company development and prosperity and at the expense of shareholder funds.

    Our regulators have neither the intellect nor the will nor expertise to tackle these problems because like the annual report leaving out facts, it appears more convenient to do so.

    If you discover anything wrong about my forecasts and warnings and reports kindly point these out by identifying the facts.

    I am bullish about a lot of things. But I only provide that sort of information to a closed list of interested parties and is not for public consumption.




 
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