RE:RE:RE:management's value vs cost
What irrational is that all they people support management while the demonstate daily they have no strategy, and evey move they make simply costs the shareholders more money. That we have to pay for a CEO in training, and that they were comfortable with dismal prodcution and paying a third party all that money to run their project. That they have no dividend objectives, share price targets and they I can't imagine how they can feel good about telling shareholders the assets are trading a less then half the value of a green field project.
I am here because i know there is a lot more value here and maybe someone will eventually kick out the management and strart running the company like a business, rather they a social club.
The tell people it is a pure play on oil, buts its not true, if i wanted a stock just tied to the price of oil i would buy an ETF. We have to deal with inefficient managment, SCO differentials, Production Issues, Hedged Currency Loss, Absurd managment costs, Pipeline restrictions, Natual Gas Prices, and a guidance document that is not worth the paper it is written on.
How many companies have shareholders stand up at the anual meeting an berate the management and their costs. I hope more of that happens this year, i might go there and do it myself, see what they say.
Management don't own the company they simply are stewards of the company, however in this case they are oblivious to the fact.