RE: Management Simply the Worst!! One of the most effective redmedies here is to demand a court ordered accounting by management. My big question is where has all the money gone that was invested in this company over the years. Sure, a certain amount went to maintenance and salries etc. but some 70 million, are they joking.? Then to suggest that we have to let them have 42million for some hare brained adventure in Africa which will certainly be a greater drilling depth really takes the cake. Moreover to threaten shareholders with an ultimatum when they clearly don't have the power to do so. In my opinion they should be summarily fired, period.
I think I could get into this game without absolutely any experience and do better than these jokers...and I seriously mean that. I would have spent the 70 million on drilling the chia surk property about 18 months ago and that includes completing all commitments and paying of the full amount owing to the KRG. At least shareholders would have gotten some action for their money.
By suing for an accounting we might be able to get a pile of it back too. If management reads this I guarantee you it will cause some racing stripes in their pants, because if there is one thing I know these kinds of characters are probably good and that is knowing the boundaries of the law regarding unsctuplous behavior. Hopefully either the regulatory agencies will take a serious look at this or other offers are forthcoming in regard to the matter that will make this present fiasco acient archives.
Regardless, don't forget about the "accounting" remedy, one of the cheapest and most effective tools the law has to offer to force shaky management to come clean.