RE: RE: AGM Announced. It most definitely will be an interesting meeting. I would expect major news involving Phoenix.
They finally got rid of one of the right people this time, but bittersweet that the company Bob and I started has been managed into oblivion. I do beleive they could still trim more fat at the top, I dont know if Hall and the board has the balls to finish it up right and axe the other VP's, but I have no doubt Hooks does.
Doesnt surprise me that they never exceeded 20-28 rigs in Canada either, they got rid of the one person with real sales and business abilties and the desire to make the company into what we hoped. Webb and the relationship he built within Encana and their IT/drilling department was the key to Encana, and they were ready to roll with Rigmanager, but after Hall and Zang lost their jobs at Marble Point and fired Bob and replaced him, they also succeded in kissing Encana goodbye.
I'm not sure where all the other "phantom" rigs came from in the PR's, but seeing that they have no problem fabricating their managements qualifications, they certainly hve no issues fabricating business acticities as well.
April 30th is closely approaching.......anyone expecting anything but more losses and bleeding will be dissapointed.
I think the board only holds around 35%-40% of the shares now, this would allow for a takeover. Coremark has got to be very concerned and would be up for new management, and I'm sure Phoenix is posturing itself to take more control.
Thats my $0.02....probably where the shares are headed after April 30th too...