RE: Would be a bad time for a halt wdr you make many valid points but one of the most important is, that this is still an early project, having built two plants and producing 15K per day with blue sky ahead if everything goes well at the two sites of production that should grow on an icermental basis with proper management of the reservoir. With approval being imminent for expansion of the Algar site.
My concern lies in the fact, that with the project finally is at the state where it could be the project that we were led to believe it could be, having said this, should the shareholders be lead to believe that 2.00 is a good price after the heavy lifting has been done and the assets, long term reserves should be sold off at bargain prices.
Any greenfield project starting today is looking at three years of approval time before building an outhouse, let alone two producing properties, after watching the Opti/Nexen Debacle at Long Lake nothing is for sure Ask Nexen how much money it cost, to get to 30Kbbl/day.
Governance becomes an issue, is this the Management team and Board of Directors that is capable of receiving fair valuefor all shareholders or just WestFace. 15K Flowing Barrels are Valuable, The 2 plants are valuable expecially in the overheated Alberta Construction market, the conventional lands could be very valuable.
Is Debt an issue..... yes but manageable
Is Management an issue,..... yes but if the BOD is reponsible and willing to do the right thing maybe not
Are the Lawyers licking their lips,...........no doubt,
Unless there is something that has been undisclosed as material information a responsible BOD should have time on their/our side.
A response from the current management isoverdue from the initial press release, at least a production update would be a positive to let shareholders know that someone is at the helm.
all just my opinion
Planet