OTCPK:VGIPF - Post by User
Comment by
InvestorSuperfanon Jan 15, 2014 6:07pm
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Post# 22096184
RE:Surge Energy Seeking More Deals to Expand in Williston Basin
RE:Surge Energy Seeking More Deals to Expand in Williston BasinGood point Seppelt. Why is this Board selling off high quality assets before a new CEO is in place? I don't think RPL is in any imminent danger of defaulting on their debt (in fact, I believe they still have a significant amount of unused room on their existing credit line even without this deal). Don't they think they should allow the new CEO to determine the path forward re. RPL assets instead of making these decisions before he/she is in place? In my opinion, this just adds more fuel to the suspicion that the existing RPL board cut this deal so they can dress up the balance sheet before the proxy meeting. Their main goal seems to be saving their jobs on the Board since they have little to no ownership in the company.