GREY:CLLZF - Post by User
Post by
turkeyboy4on Feb 12, 2010 1:53pm
665 Views
Post# 16781145
Long Like the Wolf
Long Like the WolfI've gotta say I do enjoy the banter on this post! We're all taking a sh*t kicking on CLL so rightly so!
Mr. Wolf while we don't have nationality and many other things in common I am in a similar position with my view towards the shoddy leadership of this company. Similar to you, and many others I'm presuming, I'm holding long term but based on the asset base and nothing more.
CLL has great operational assets and could have a great future but their management team should really be replaced. . .I'd nominate a monkey over Gusella but I'm still not convinced Dick isn't really a chimp in a costume.
Let's review - company has great, integrated asset base but a management team that;
- say's financing is fine, then does surprise equity issues, below market value to dilute common shareholders. . .
- say's production will be 10,000barrels but then doesn't hit the target. . .
- buys a great refinery. . .then has to interrupt production and undertake a significant re-working
Business, and especially markets are relatively straightforward in that they respond to information. If you say you're going to do something and you don't achieve that goal, you've pretty much sh*t the bed and will be treated as such. Shorters feast on CLL, as do Investment Bankers as management continues to screw the pooch on managing what is a truly sound asset base.
If leadership could send one credible message (lets start with a single before we swing for the fences!!) for example, finishing Algar, on time, on budget with no major issues, well golly gee that would be a good start towards restoring credibility. Then, using baby steps, we could move to step 2, say hitting our production targets or say distracting the greenies and highlighting the benefits of the minimal environmental footprint of SAGD in contrast to tar sands mining. . .
And of course, if all else fails, I'll be the irate shareholder being tasered at the next shareholders meeting as I try to pull of Gusella's mask and find that damn chimpanzee. . . .