RE: RE: RE: FINALLY !!! Got out of this thing...Montreal-
You are correct in that management is not responsible for low gas prices. That has impacted the share price.
However, they drilled a North Sea well that was subject to a pipeline/production sharing agreement and did not fully disclose either the existance of the agreement nor its effects to the shareholders. It wasn't until after the well hit and was in full production that the shareholders were blindsided when the quarter reports showed the loss of revenue and cash flow. Prior to that, I did not see one company disclosure and did not read one shareholder comment on Stockhouse that mentioned the possibility, let alone existance, of such an agreement. If there was, there would not have been the hype and run up of stock price in the anticipation. All the expectations leading up to the drilling talked about the potential reserves and production should the well be a producer.
Either management knew and chose not to make it public, or they didn't know and they themselves were blindsided. Either way, they look extremely bad in the eyes of their non-insider shareholders. Now they want to drill in Idaho?! Where there is no commercial production!
How can we trust/believe these guys?