Arcan Resources Ltd ARNBF

RE: RE: RE: Who gets thrown under the bus this tim

[rodeo2]

I don't know why everyone is throwing Penner under the bus. From what I can see his performance as the financial head of ARN has been excellent. His job was to finance Arcan's ventures. He did an outstanding job doing that. At the end of the day you really cant blame him for doing his job. You also cant blame the operations / Drilling guys who drilled the well. They did what was asked of them. Hey the receptionist might be blamed as well for looking gorgeous and distracting the technical team. Lets start pointing fingers. Penner was moved up to repair the damage created by the technical genius's who hired him as CFO years ago. The big leap of faith here was in the technical management/ expertise that dreamt up this boondoggle. It appears to be a boondoggle because they removed a whack of oil without any concern for replacing the voidage. You can bet they knew the clock was ticking. Sooner or later that game catches up with you. For these guys it seems that the pressure drop and resulting production drop came sooner than later. The initial founding technical guys that dreamt up this venture drove this bus off a cliff and there really wasn't anyone in the company or on the board who had the technical capability to challenge them.  If your going to lay blame, lay it on the technical architects who created this fantasy. They probably really believed in what they were doing. Too bad they were wrong. I agree that the analysts were also sitting in the front of the bus as well enjoying the ride. They should enjoy the ride they provided the fuel for it. See how fast they can turn on you. Who was the analyst at Haywood? I understand he was very prominent and bullish on this stock. What was his technical expertise? Was it equivalent to Arcans technical expertise? I guess not. I just think it would be good for all shareholders to know who the analysts are that created the buying frenzy over the past couple of years. Analysts pick up coverage and follow the companies internal activities very closely. They are the real reason why most shareholders are holding the bag today. If they still have a bag to hold.