RE:RE:Nothing new here .....ferret_ca wrote:
agree 100% william
naka, too many people on here have fallen in love with iae and fail to see any flaws. in the past management has NOT executed, when iae took over valiant (which was a good move) iae combined never produced the numbers we were told the combined company would produce. there have been many other miscues etc along the way. recently we new of some shut ins etc but there was no real warning about production dropping to approx 9,000 + boe/d over much of the winter. same with when they finally anounced the huge delay in stella. you never find out till after the fact with these guys on any kind of negative news.
i would much prefer to see them really focus on stella and making damn sure everything goes as planned rather than trying to buy more production in old fields so they can mask future prodution declines to some extent. debt is not a problem now, but very well could be in the future. a lot on here assume stella is a done deal, lots of execution risk still here. just sold the last of my iae for now.
cheers ferret
Sometimes I wonder if investors expect management to hold them by the hand. Come on Ferret, IAE is based on shorter term producing fields. Surely you know that and if you don't then you;re in the wrong game. This idea that they are "masking" future production declines shows a profound lack of knowledge of this company. Jacky was a short term stepping stone to Athena which was a shorter term stepping stone to Stella, which, you guessed i, will be a shorter (relatively speaking) term stepping stone to some larger producing assets. This is how these companies are built. As for production dropping, management has always been timely in their announcements. Do you expect a phone call each mornning from Les. I mean really. Listen, you make good points on ther being much risk in this company, which there is, but let's not get silly here. Have there been some miscues, of course, but show me a building company that doesn't have some. Why don't i ever hear you talk about how great management did on farming out all of the Valiant exploration fields - in record time no doubt AND at a profit. Why don't I ever hear about how this management team took a company that was trading at $0.19 during the second largest market crash in our history and brought it up to being on the verge of producing probably more than 30,000 boepd. Keep making GOOD points, and stop with the silly comments about "masking" prodution or some how management being nefarious in hiding unshcedulated shut downs, etc.