Management proving their excellence? You sure know how to pile it on Glimpseyboy.
Just look at the SP performance over the past quarter. With an 80% decline from its highs for the year, I concur with PI Financial's assessment that Arcan is arguably the worst performer in the Canadian junior oil & gas space so far in 2012.
So if the quality of their Swan Hills asset hasn't changed, then its the people behind the company who have dropped the ball. IMO Arcan has been plagued by mis-management since its inception. Excessive spending lead to wasteful spending and the taking on of too much debt. Then what really lost investor confidence was Ian Fisher's embezzlement of $4.5 million from the company. They have only themselves to blame for being in the doghouse!
Now it remains to be seen if management has recognized the error of their ways and will make the necessary changes. But talk is cheap and without any new faces among the ranks I doubt that the recent management shuffle will make much of a difference and was meant only to appease investors. Arcan has dug themselves into a deep hole and until such time they show some discipline and sound decision making they will remain there
IMO the best thing that can happen now is for somebody (ie. CPG) to put us out of our misery and buy Arcan out, even if it is at wholesale prices.