RE:RE: RE: RE: re. 3rd quarterWhat are you talking about? The share price went from $19 IPO to $4, the two private equity fund owners had enough with the current management and sold out. John Rooney and Jim Artindale banked millions in compensation while this happened. They used up like 100 millions in cash to buyback shares when the money should have went to debt repayment. They've hedged oil at low prices, when the trend was upward. They probably received back pocket money for that.
Waterous probably said that about them as a courtesy. As soon as the change of control occured, the management change was announced. You don't say, "I am going to change the management because they've done such a bad job running the company. Take the compensation and leave."
Also, John Rooney and Jim Artindale sold their shares recently from my understanding. They probably just dumped the shares driving the price down, so they could look good or something, since they got the shares for free anyway.
Badstuff wrote: Hummm. Let's see. Using Adam Waterous words when he purchased NBZ " John and Jim have done a remarkable job. From scratch, they built a mid-size oil producing company". NBZ increased the stock value for investors, put in place a very generous, sustainable dividend, even when the price of oil was falling. Then sold it at a substantial profit when the time was right. This is the definition of bad management!
The purchaser of this company immediately changed a good, recognizable, (for reasons I do not know), name, removed the dividend, stood by while the value of his investment fell by 43% ( approximately $150m), then watched as the stock price floundered even when the price of his product increased by nearly 20%. This of course is good management!
I have bought and sold this stock all the way down. It seems to have resistance in the lower $2.00 range. If I sold now, I would lose a substantial amount of money. I will hang in there until frustration wins out over patience.