Spyglass Resources Corp SGLRF

RE:RE:RE:No leadership

[power_auditor]

I will take the opposite view here...and not "warn others"...but ask questions.

Do you think a Lehman Bros. or a Worldcom or an Enron were preventable because they were on more "established" exchanges?  Remember TRE?  What about NT?  Quite the list around....the stk mkt has always,always,always been considered a casino....nobody has ever been forced to go into a casino and place a bet...seriously...How does Buffet's shrs top $200000?  Very low trading it seems....

If anybody has information that points to the ceo being directly responsible for the "problems" at Dixonville",please share it with the AlbertaSecExch(ASE) as they are the regulatory body responsible for all things Spyglass.  

Cutting the dividend was a decision, made it seems, listening to those on the "street" and especially the trading houses that have slapped price targets on the shares and now need to see those targets fulfilled by any and all means....Has the TD trading house, made the trip to the Dixonville muskeg to see first hand how the liners are being re-installed in the pipeline?  Maybe the workers can only do 50 to 60 ft a day?  I do not know because I have not made the trip to see first hand....maybe the workers themselves are able to communicate what is going on to third-parties....I have brought this up before....and I will bring it up again...operational information is key and yet the shrs have dropped...TD dropping their price...based on reading the Q2/14 report,which is perfectly OK...  Does the Q2/14 report say how many ft of lining is being installed everyday?  How many workers are on site at Dixonville?  Have the workers come across more problems?  Is there more environmental issues than just the initial spill?  This is what I am talking about....information.

Less than ~One million dollars a month and all of a sudden the company shares are going to explode upward?  Exactly how is that to happen?   ~128M S/O...The company if it "listened" to all the naysayers  would have over ~250M shrs by now....since that is the "easiest" way to reduce the debt quickly....but mgmt has not gone down that route and seems to be trying to build a company that paid out a nice dividend all the while managing its debt reduction program,slowly it seems, but at least it has dropped a bit.....Why should they give away their assets to appease the trading houses?  Dixonville has thrown them for a loop...but and this is where I am calling for more openness with shareholders from the CEO......explain the status and work that is going on at Dixonville and why it is taking time....Do they have enough resources there working on the system?   Is the ground too wet? Soft?   That is it...once Dixonville is working 100% again(and flowing 3000 boe/d) it should in all probability  be greatly enhanced for the next 10 yrs, then the company shares can be priced properly....now it seems the company is allowing the "street" to dictate the share direction instead of the other way around... 

The company was formed from a consolidation of juniors to form a stronger junior....along the way "problems" arose....Dixonville spill...Can anybody name any other "problem" area they are having?    Maybe looking back on who was running the Dixonville system before the consolidation happened would be insightful....since linus4 you seem to be well versed in the operations here....why do you not give it a shot....explain why Dixonville has now all of a sudden become a "problem"?  Was there not a "spill" in that same area a fews yrs back?  ~$25M liability for the past owners?

Production generation is the key here to my eyes...the land asset base is icing on the cake....~14500 boe/d...and ~128M S/O...~$285M debt....0.015cts/month div.....Cessford field and of course the Noel field(spun-out in the future?)

As long as the shares can be "freely" traded by all then they can go down to zero or upward to infinity(Buffet's $200000 shr price)....place your bets as this is what the trading houses want from us...in the absence of good intelligence/knowledge/information.

I will not be adding anymore shrs, at today's price($1.66) until I am confident the mgmt of SGL has the Dixonville problems fixed and behind them once and for all......maybe  I am not alone in this decision.  Reducing the dividend has become a "trust" issue for me....as I do not see the business case for "saving" less than ~$1M a month when the Dixonville system once it is brought back on stream 100% is the key stabilizer to operations....just my opinion.  GLTA


***linus4....need some sort of proof of ceo malfeasance before requesting a ceo change here; an inability to govern,as we have all seen no matter what industry one looks at...be it politics,energy,material or tech....hell even Sherritt just survived a call for change...does not happen over -night and requires more than enough shrs to come into effect....George et al has a few shrs here...I have not heard or seen that he is unhappy with his investment....have you?