RE:RE:RE:RE:RE:RE:RE:RE:Obe
Hendrick. I think your opinion on things are generally good but the amount of money handed to management is wrong. You buying shares at 40 cents is a risk as if oil stayed at 40 to 50 obe probably goes under and any money goes to 0. SL and management are all very well paid and dont take the same risk. They have been handed about 45 million in cash in 15 months.. they may have had some to do with it but 90% of SP rise is because oil went to 100 wti and people are more knowledgable to value proposition due to sites like IV.. I dont see any other O&G company handing out 5% of the company to management when almost every O&G company is trading at 5 year highs (which OBE is still about 50% below 5 year highs). The fact no one knows the formula for how it gets calculated is another black mark... even this site people are guessing what the number will be which is full of very knowledgeable people. It is a lot of money which should not be handed out in shadows and in my opinion should be severely reduced.. MEG in my opinion is better managed and has made better decisions throughout this last little while and I dont see management there skimming 300 million out of the company because it is trading at 5 year highs. With that being said I re-entered my position on Friday because the value proposition is insane.. compared to CJ they have better land, 50 percent more production and similar EV... the debt they have is a good leverage as well.. would just like to see the refi finalized and this SP performance thing improved or at least brought to the light so one really knows.