RE: Misinformation regarding Board Agreed MS. For sure Ithaca has frustrated some of the members of this board and they have moved on but that is OK.
Maybe I am naive but I believe that companies make mistakes along the way to a company coming to its own and achieving its mid and longer term objectives. People are very quick to judge Ithaca's management but having had executive roles in energy companies I see that it is much easier to critcize performance than to run one of these suckers.
JEC is a vulture capital fund and will do what it can to cause the termination of the company for a one off share price appreciation which caters to the trader mentality.
One would think as an investor that with the company working diligently on a 30,000 boepd development one would at least wait until this development comes on line and make decisions at that time regarding the future prospects of the company. I believe GSA is much different than Athena and the company is looking for accretive production and reserves additions.
One just has to check the longer term charts to see multi year flat spots in their share price until "things came together". I owned Baytex some years ago at under $10 and waited and waited for things to happen. Frustrated I finally sold and then voila not that longer the seal development finally came to fruition and I missed out of a huge run up to $50 over the coming years.
JEC looks for companies that are undervalued and instigates the sale of a promising company prematurely for their own benefit.