There were reports recently on oil wells drying up that could have a substantive impact on supply in years to come (IAEA report I think). This is further exacerbated by oil companies not investing enough on new ventures of oil exploration. You need to take a strategic view of where Straits Asia is right now and where they should go. Present conditions are less than forgiving and it is probably the reason why I suspect those vested are less than happy with the direction.

Nevertheless, I feel it is imperative that they seek opportunities and just get on with the task of execution as maintaining the status quo could be detrimental to shareholders value.

BTW, me not vested. Like MM said recently, higher returns higher risk.

So many coal companies in the region, so many companies doing oil exploration. What is straits asia track record of oil exploration, hit rate as good as shell or exxon mobil perhaps. (Probably need alot of money to pay as tution fees, on oil exploration for the company)

Not easy to do oil exploration when see money draining the cash hoard away for 1 year 2 years 3 years, investors will talk and some management director will later also disagree. CEO will have to fight for the oil exploration project to stay on course, if fail writeoff in the balance sheet. (Also Straits Asia cash hoard do not impress me at the current situation) If take loan to finance oil exploration very risky, if it is from profit reserve at least not so bad)

Also you say Oil will not continue to fall indefintely I agreed and market will recover also agree. But the BIG question is WHEN?? 1 year or 2 years from now perhaps. If share price cannot go up, how they going fund expansion this 2 years. Also if find oil field, do u noe how long it takes to start pumping  (a barrel of oil) initially. It is not like going to the hardware shop and pick up all the equipment u need to pump oil. As u see keppel offshore, built 1 rig also take 2 -3 years which is good timeline.

Making big loan and issue warrant to fund expansion.. Hope they cancel the oil exploration venture. With current oil price $50 ++ no worth to do oil exploration (High Risk bet that they willl find oil reserve, if not money down the drain)