GREY:LSTMF - Post by User
Post by
FootballFan1on Jun 02, 2015 2:12pm
460 Views
Post# 23789915
Lightstream CEO John Wright
Lightstream CEO John WrightAccording to Lightstream's website, Mr. Wright has been CEO since November 2009. I assume Mr. Wright began as CEO of Petrobakken (from which Lightstream was born), and in 2009 Petrobakken's share price was $35.00. When Lightstream was created in May 2013, the share price was in the $8.00 range. LTS had high debt even when oil prices were in the $90 - $100 range, and was also paying a generous dividend. It seems like Mr. Wright was far too aggressive even when oil prices were high, and shareholders have experienced an almost steady decline in share price over the past number of years, with the company unprepared for the drop in oil prices as simply another in a long line of strategy missteps by the company. I'd be interested in posters' thoughts on Mr. Wright going forward as he remains CEO of Lightstream...?...does anyone see an activist shareholder like a FrontFour moving in to try and unlock value in LTS...?....are there any companies other than CPG who might be interested in the Bakken assets LTS has declared they wish to sell in the next 12-24 months (many LEG shareholders certainly didn't get what they thought the company was worth when CPG cut a deal to purchase it recently)......?.....can LTS meet the revised debt covenant it recently entered into with creditors....?.....do people still have faith in Mr. Wright to turn things around.....?