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Bullboard - Stock Discussion Forum Arcan Resources Ltd ARNBF

OTCPK:ARNBF - Post Discussion

Arcan Resources Ltd > Who gets thrown under the bus this time?
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Post by mathwhiz on Oct 11, 2012 12:15pm

Who gets thrown under the bus this time?

Q4 2011 - Natural Diasasters that didn't impact any of the other producers in the area managed to impact Arcan. A few employees took the fall and a 'new team' was once again formed. (For the second time in a year, another 'DREAM TEAM' was assembled). All the guys running the show got promotions, raises, bonuses and stock options.

Q1 2012 - Ian got blamed, lack of volumes was deflected in order to focus on his removal. After mis-leading investors with volumes and wasting away hundreds of millions in a year, Penner gets his promotion.

Q2 2012 - Ed was 'retired', Penner needed a fall guy and Ed was it.

Q3 2012 - shaping up to show potentially less than the 4000 boe's predicted by Penner. This man has a talent for exaggeration! Who gets canned? Monday mornings and returning from vacation are a lethal combination for Arcan folks, both Ian and Ed showed up for Monday morning surprises in time for quarterly releases.

Who's left? Baumgardner, whose production targets can't hit the wide side of a barn? Gunning, he's the optimization guy with nothing to optimize. Natras, he is the geologist but doesn't choose the drilling locations, the engineer does. Ryder? Nah, he's hung onto Penner's coat tails for years, those two can't be separated. McCoy? Can you fire a Director and make him the fall guy? Mr. Smith? Perhaps he's finally figured out the lies and is a threat to Penner's Presidency? Watching these guys and waiting becomes more painful every day. Do they take time to read how the investors feel? Communication skills don't seem to be any part of business/operations for these clowns.

Comment by bakken13 on Oct 11, 2012 12:28pm
Makes you want to puke, doesn't it?
Comment by mathwhiz on Oct 11, 2012 1:36pm
Not that this is truly funny, but you know who gets the last laugh? Ian Fisher. He sold his shares earlier this year, remember when Doug said that the prices were being impacted by a 'former Exec' dumping his shares? Well he was the smart one, he likely sold between $4-$6 back then. Yah, it does make me want to puke!! Can't wait to see the releases in November... 
Comment by skyhi0 on Oct 11, 2012 5:24pm
Can't be as bad as it looks... te analyst at Hawod had a $9.25 target on this earlier this year He must have known someone?
Comment by rodeo2 on Oct 11, 2012 8:36pm
I don't know why everyone is throwing Penner under the bus. From what I can see his performance as the financial head of ARN has been excellent. His job was to finance Arcan's ventures. He did an outstanding job doing that. At the end of the day you really cant blame him for doing his job. You also cant blame the operations / Drilling guys who drilled the well. They did what was asked of ...more  
Comment by snowbird701 on Oct 12, 2012 12:08am
Darn it! Why didn't you say the receptionist was gorgeous and distracting earlier! I would have personally visited Penner to chat with him. Why should he have eye candy that my $$ are paying for? As the Financial head of an organization, if I helped put them in $300 million dollars worth of debt in 12 months without anything to show for it, I am not sure I'd be termed a success... You ...more  
Comment by wordless on Oct 12, 2012 10:41am
"As the Financial head of an organization, if I helped put them in $300 million dollars worth of debt in 12 months without anything to show for it, I am not sure I'd be termed a success" *************************************** Nothing to show for it? The piepline and other infrastructure they built is suddenly non-existant? The waterflood that is currently underway and will continue ...more  
Comment by Jesse15 on Oct 12, 2012 10:48am
This could EASILY be one of the most screaming buys in the WCSB ... waterflood takes time for results to manifest ... but when it does and pressure is reestablished , production will VERY quickly INCREASE !!! VERY QUICKLY !!!
Comment by rodeo2 on Oct 12, 2012 11:43am
Snowbird, by your comments about the CFO picking drilling locations I am afraid I have to label you a 12 year old probably living out of his mothers basement. Penner in his role did what was expected of him which was to find the money to move the projects to the next level fulfilling the requests for funds by the technical arm of management. He is not a technical engineer, geologist or ...more  
Comment by snowbird701 on Oct 12, 2012 6:36pm
rodeo2, you get out from that basement much? I realize that you are truly trash and not worth responding to, however the desire to return the insult and egg you back on is far too great, so I digress. Now, stop whining like a little girl and grow up...  1. What you do under your momma's skirt in that basement isn't any of our concern, please don't share. You had to know that ...more  
Comment by rodeo2 on Oct 13, 2012 12:33pm
Not connected to Penner at all. Just calling a spade a spade. If you actually think that when (if its true what you are saying)  Penner made those statements he actually was picking locations then you have your head up your butt. His part of the team was to source the money. The Fishers and Gilmet were the technical driving force behind this venture. They convinced the market of the viability ...more  
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