Candax Energy Inc CXEYF

Slow to deliver an update

[OceanRanger1]

Well I have had enough waiting so I called the Toronto office. Nobody answered the phone of course so I left a message on the machine.

The girl called back this time, she was a little cranky. She said I would have to call investor relations for any information. She tried to hang up but I insisted on speaking to an executive of the company but she said there was nobody there I could speak to - that all the executives were in the UK. She said she just answered the phone there and that's all. 

Alright I said can I ask you a few questions then? She was cranky - wanted to hang up but I insisted so she finally complied. I asked her if she was just an answering service or was it an actual Candax office? She told me it was a dedicated Candax office. 

OK so I asked her if she worked there alone? No she said. 
OK then who else is there with you in that office then? I asked. She named off a lady with a title but said she was away on business.
OK I said does anyone else work there besides you and this girl then? Yes, she said.
OK and what is the name and title of the other person then? Charlotte May she said.
OK now we're getting somewhere - I want to speak to Charlotte please. Well she is in a meeting she says. Alright I'll leave her a message then, I said.
She puts me through to Charlottes line - finally - and charlotte answers right away.

What's up with that crap. Why do I have to interrogate this secretary just to speak with someone who has some knowledge of the company and what is going on??? 
I told the secretary - I own a large position in your company, this is a publicly traded company and I have the right to ask questions as a shareholder. We are your boss, you work for us, we pay your salary so let's get that straight right now. We are tired of waiting and we want answers now!   

Ok so now I have Charlotte on the line and I let her have it with both barrels but in a nice way. I'm not cranky just impatient so I've had enough waiting patiently.

Charlotte, I said, Look we are tired of waiting where is our update???? We had a 2 week workover on El Bibane that was supposed to have comenced mid-march - we have a new management team that was supposed to have taken over at the first of the month and here it is 3 weeks later and we have no news!!!!!

Charlotte why are you keeping us all in the dark so long? We don't know if the work-over had even started never mind that it should have been completed weeks ago. We supposedly had a new management team take over 3 weeks ago now and no update!!!!!

Charlotte we need an update now!!! Have the new company executives even arrived at the office yet??? Ok their name-plates are on the office doors but are the guys in their offices working now or are they still on the golf course???? Who is in charge ??? Are they in their office working yet ???

OK OK she said your message is being heard loud and clear. We understand and I can tell you that an update is imminent. 

OK so now you know what I just found out today. It's coming real soon. I delivered the message very strongly but I did it with class. Hopefully it will help to shake a release out of these guys.

I'm thinking they want their 87 million warrants at 11c and they certainly control enough shares to manipulate the price and hold it down until they exercise their option. Maybe they exercise their options in the next update too. We may take another hit on a 28% further dilution but this stock was going to zero until Geo showed up. 

The upside is still there and I still hold my full position.


Run baby Run!



OceanRanger