RE:Mr James
Thank you for the response. Now I am beginning to become a bit skeptical on the future of this company. I listened to the CEO discuss the company on the company website. What I could gather is they are looking to accumulate 500 million. They are running with about 200 million left in the purse, and they are not producing as of yet. They were original suppose to begin producing this quarter, now they accumulated 850 million on the original IPO, from big Asain investors and this management team is not producing, this would indicate incompetence.
I also have a friend who is on one of there sites, and what I have have gathered is the camp is very nice but this is one of the worst managed outfits he has worked for in the Tar Sands. It was also mentioned they have just fired a great deal of people, to only bring the same calibre of people once again and it was also said there is no way they will be inducing steam this year, and they would be lucky to hit that milestone next year.
It is a shame that qualifications dont qualify you any longer, and being Canadian no longer means you speak English. This is what I find and the funny thing is who built the original plants in the sands... Well i will tell you as I have worked with many, the Masons, the Christian Brotherhood, and the old school, Unions....
Bottom line, how are these folks going to get a JV going on when they are not pulling there weight and keeping there deadlines, spending other peoples money is easy but making it, well thats a whole nother game, and these guys now want to borrow money, they are making my stomach turn.... And 2.8 Billion Outstanding shares - this is looking to be another CLL, another OPTI, they are not focused on what they need, they need to be producing.
The worst thing is when they were considering selling their 500 barrel operations, this being there only producing area, really guys not wise.
The management TEAM needs to get to the making OIL aspect of the business and reduce the spending, I repeat REDUCE THE SPENDING!!!!!!!!!