new board 100% due to pressure from insititutions. Obviously not happy with resutls, wanted new and independent faces. Ambrose was CEO's mentor and Duce was on only to get him to sell Duce Oil back in '10. Board blinked, and fast. DId not even need to go public like Trioil to get their way.
Since they started the recap all directors but 2 have left on their own or been turfed..
Although they shoudld, no point firing management as this thing will be sold in 6 months so dont expect an AGM or TSX listing. Rights plan meaningless as nobody will go hostile with proven unreliable forecasting and declines still a risk.
Sadly, not expecting anything over $1.60.
Step in the right direction.RSU's should get cancelled next as a message to mgmt. Unfortunatey