RE:RE:Well guys and gals, BECAUSE downwithdotcom1 wrote: let me RETORT: GTE shareholder value has gone from a high of $70+ to where it is today of $10 under this management team/CEO - literally, a billion dollars of debt to raise/sustain production with little thought for a plan of shareholder return of capital. The story is a bit convoluted, but its all there including the disaster 10:1 share consolidation, the near giving away of Petrotal minority position (its tripled since it was sold) and the list goes on. Yes, there alot of disgruntled GTE shareholders AND WITH GOOD REASON. I say you may need to be educated on this subject as well...WORST MANAGEMENT TEAM EVER!!! dwdc
They bought back shares, to dilute even more now, that was the return of capital.
Imho one of the worst acquisitions, I've ever seen in the oil patch. They spend close to the own market cap, to buy 20k boe (50% Ng), with zero obvious synergies, beside that they're bored in their Canadian office and tired to make voyages into the jungle. I guess the I3 free cashflow can barely cover the interest of the new debt.