RE:RE:528,500 shares purchased by CEO
A note on the purchases, I believe at that time Kenya suggested that TPN had given Birley the cash to buy his shares (for one of his many bonuses) instead of directly issuing him the shares, since Kenya said that would have required shareholder approval. Don't know what to make of such suggestions, and I couldn't really find out in the sedar filings.
Kenya apparently wants to paint me as some unthinking basher, Sure, I am disappointed at the SP but my main complalnt about the SP is the buying between October 3rd (farm out signed) and the 11th (stock halted),the ramping up of the price to the high 30s, and then the heavy selling into the farm out news. Is this why institutions are a bit wary to invest in TPN?
My favorite parts of the conference call were Birley telling us all these resource estimates (105 million barells or 200 million) are guesswork. And when Logan read from the wrong paper and said TPN had a 64% chance of success with their well. Reminded me of a great bit from the show "RedDwarf". Edited out of the transcript if I remember correctly.