Time to say Adios
While this has been a very minor holding, it at one time seemed to hold out a lot of promise. After a long period of holding TAO, there are just to many things that do not seem right...For a company that purports to have significant opportunities it seems to continue to stub its toe. Really comes down to a lack of faith in mgt. Poor communications, Second year in a row with reserves dropping, Cap costs higher than expected, Production never close to buoyant comments (since dramatically reduced) and now "hoping" to reach 2000. Flat CF and EPS projections the next few years, Sr. Mgt. member leaves to return to Alberta patch.....Full marks for trying and if one waits long enough there may very well be a reward. Opportunity costs are too high so allocating the funds to other O&G ops. - back in N.A. To many other variables like the local politics that we really do not understand unless you live there...So I wish TAO and stockholders well....