New business, new COO
Boy do I share the frustration with the falling share price, but I guess I cannot be surprised. When I look back at my notes and comments, I see no sign that the CEO/President has addressed the root cause of poor performance - a huge inventory of un-rented equipment mouldering in the yard.
So I guess I shouldn't be surprised when the COO resigns - he wasn't already the right choice forf the company last year being a manufacturing specialist. They're not doing any more manufacturing right now - or shouldn't be - they need a salesman/woman.
And that's what puzzles me. With the recent rise in the global price of gas and the supply problems in parts of Europe, there should be all kinds of announcements about how QST can improve recoveries and clean up emissions and improve gas well flow. Yet... crickets.
Now that this week's uncertainty about who is in charge of the country is over, it will be interesting to see if the greenies in government can get any traction on new policies for environmental cleanup and reduced emissions. That, more than anything, should have a significant impact on business in the next year, if it happens. Trudeau needs something to show the world about Canada's dismal performance at the next COP25/6 or whatever - even emissions rules would help deflect the criticism of Canada's performance, which, second only to Australia's, is worst per capita in the world.