Smells very bad...John has created tremendous value for investors
Spent $568m over past 4 years
Sells Ante Creek "for $114m" -- well since they recently spent $74m on Ante Creek Strategic Infrastructure the sale of production, reserves and acreage comes in at $40m
Infrastructure sold for cost
$4 for 2P reserves
Production sold for zero
69,000 acres sold for zero
anyone know if this was an "arm's length transaction"....."they were big on arm's length transactions" when acquiring for hundreds of millions
Suspicious for the past several years and some very odd public appearances, scuttlebutt from Canadian b/d's.....
doesn't help anyone, but once and awhile the rats pay a price.....