OTCPK:VGIPF - Post by User
Comment by
Seppelton Dec 31, 2013 5:16pm
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Post# 22050054
RE:RE The Research Continues....
RE:RE The Research Continues....I am sure the current board has looked at FF records and if anything, they woud let us know. There are still 3 weeks left until election and the compain will probably get uglier, just watch for next press releases. In any event, I don't care for 2006 transactions, good or bad.
I am on the same page with FF and I like the fact that they are after a highly leveraged and diluted dividend paying junior oil stock. This is not a case when a hedge fund is attacking a healthy, assets and cash rich company just because it sees a weak board and hopes to break the business apart for short term benefits.
Restoring RPL shares by at least 50% from current levels is not an easy task and needs fresh blood and tough decisions. I am not sure if the current board and it's 'special committee' which has been inert for the last 7 months and has no shares in the company, is the best candidate.
One thing I don't agree with FF is blaming the current board members for the poorly executed December 2012 transaction and a $63 million "miss". Those insiders (corrupt or greedy) have left the company.