RE:RE:RE:Sorry, long post but am I missing something I like reading your posts, Bamfield and a few other's here. The rest should be simply ignored...
Some promoters and insiders in Calgary have learned that one can make a good living by getting oil from the underground but one can also become super rich in a public company - at the expense of shareholders.
Most shareholders are very passive here and often don't vote at all or accept anything recommended by the BOD.
As for regulators, anything approved by the board and accepted by shareholders, including questionable deals, is often acceptable. A stronger national regulator would be a better institution but many provinces are against it.
There are also very few strong activist shareholders here. FrontFour went against RPL's board but lost. Among other things, many retail shareholders were spooked by proposed share consolidation. What do we have now? Tons of paper, a promise of a $1.65 coupon... and consolidation. Many are now selling this coupon for a $1.35 and happily exiting, some with, others without a gain.