Regal Partners Ltd V.RPL

RE:RE:My Vote is in

[19Weasel]

Winnipeg, I hear what you're saying.

In a perfect world I want the overall company to say as Canadian as possible.  I don't care about any single name - Rick George included.  In aggregate I want the bulk of the ownership, profits and distribution of wealth to stay north of the 49th.  

Here is the way I look at things - Rick's most recent foray back into the oilpatch is to sit on the board of Penn West.  He came out of retirement for it.  He was brought in approximately in May of last year, including a new president in June (former Marathon Oil exec from Huston).  Since the time Rick was brought in to the company, two earnings releases have occurred and the stock is now lower than it was during the 08/09 recession.  There was a brief 'pop' when Rick's board announcement went down, but that was quickly reversed in favour of the overall market sentiment.  

All I'm saying is that some dude's name holds no water for me.  Was it Rick's fault the price tanked for Penn West?  No.  Is it the new presidents fault?  No.  The Market will price a company accordingly, and it's based on 10 years of prior garbage management and what the Market believes it's future earnings and performance will be as compared to its peers.   So in following, I could care less that Rick's son that lives in Connecticut and runs an 'event driven' hedge fund is interested in shaking the RPL bird cage.  

Like another member on this board said, if FF wants real change and they are indeed as successful as their proxy info / website try to indicate, then they should easily have ~$500MM (or whatever) just to buy the entire company at the premium they think it should be worth and operate it at arms length.  Let them operate it and reap the cashflow like a company such as Franco Nevada does.