Spyglass Resources Corp SGLRF

No leadership

[linus4]

Under Tom Buchanan's " leadership" , shareholders have lost about half of their investment...When he merged the 3 cos. , he set the distribution, then adjusted lower,& cut it again..Tommy said his dividend paying model was sustainable due to low cost long life assets at oil & gas prices 'lower' than they turned out to be..Where did he mess up? Was his projections for this merged co. just bull- sh-t fed to investors to in an attempt to justify his large salary or was it a simple case of mismanagent of the assets he put together..Prior to merging the 3 cos. into Spyglass , he had merged a couple of juniors together & that failed also..

[power_auditor]

....linus4...getting into a mgmt bashing board does not help you,me or the company...the best course of action from my perspective would be for the CEO to explain exactly what is going on at Dixonville....Is the problem there  so problematic that it has made one dividend cut necessary and the ideal/opinion that another cut  is being "whispered" about?  MacQuarrie Research.

[cender]

Dixonville should be fully back in a few weeks time  as they stated at the time of  'sabotage'  (lol, 3 seperate incidences in 2 months ...wow)   , going on 6 weeks now  and it does make you wonder . Most likely a lot of corrosion in those pipes as waterflood can eat away a few millimeters per year if you dont have the right liners . That is about 1800 barrels of

[linus4]

My intention of stating 'no leadership' is to serve a warning to newbies who might be considering an investment in anything associated with CEO 's who have a history of destroying rather than creating value for shareholders..I already have made the mistake of drinking his kool aid for too long & want to warn others...My list of names from the VSE exchange  is growing &

[Joe454]

This post has been removed in accordance with Community Policy

[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

[Joe454]

This post has been removed in accordance with Community Policy

[Jimmy2014]

From reading through the comments it appears that some individuals are very defensive about the leadership.  When poor results are produced questioning the companies leadership is a natural response.  Complacency could be a destructive force.   I do not accept your comment that the dividend reduction was in response to 'listening to those on the street' or 'trading

[Kherson]

Very good point Jimmy2014. Looking ahead, do you think that SGL's balance sheet will improve much over the next 2 quarters? Kherson

[Jimmy2014]

Dixonville coming back on-line shortly,  coupled with the dividend cut (would have preferred a dividend elimination)  will improve the situation.  I am following SGL and waiting for an entry point, but  again will wait for the next couple of quarterly results before I do.   Spyglass'  team has not exactly delivered to date and I place very little trust in them or

[eusdond]

I said at the time of the merger that He would cut the dividend, contrary to what He was telling the market___He, as well as some other CEOs of these small cap Canadian O&G companies, ride them out, enjoying Big pay and benefits until they have sucked the life blood out of the company and then move on to another with the same story of how they are going to work for the shareholders... They