What powers do shareholders really have?I've only been investing for a bit over a year now so i've never seen anything like this. From my understanding, we own Opti, we own the oil in the ground and management WORKS FOR US AND OUR BEST INTERESTS. Do we have any power to collectively say F U to management/CEO and have them removed? Can't we vote against any deals and even against restructuring and force a bankruptcy? The Cnooc deal is a joke, we have $1.3 billion in shareholder equity and were GIVING IT AWAY FOR $34 million.
We have $189mil in the bank. In our restructuring deal the bondholders get paid all their interest back in equity. So why don't we just make our $72mil payment, wait for production, wait for other offers and if we do need to restructure we could just request that $72mil cash back as it's already factored into the restructuring deal as equity. If we get our production increases over the next few months, the bondholders would have been paid their interest and all is good. The warrants are 100x better than a measly 12 cents US. If this deal goes through there is something wrong with ALOT of people.