Post by
thetruth54 on Sep 14, 2023 4:49pm
Wti $90 plus OBE at $8 US is an indictment of management
The fact that wti is now at $90 and Obe is struggling to get to $8 US when the company is worth $20 plus is an indictment of management's inability to enhance shareholder value to date. The only thing moving this stock is the price of the commodity. Loukas needs to produce something that will improve this pathetic valuation or his days as CEO will be numbered. This December will mark his 4th year as CEO of Obsidian. The clock is ticking. It is time to put up or get the you know what out. Long term suffering OBE investors have been patient enough with nothing to show for it in terms of a fair valuation or dividend. But Loukas is getting paid a lot of money with no real results in terms of enhacing shareholder value. Please don't tell me about his buy back which I have a gut feeling will never get completed. This guy has a new strategy every few months it seems. It is like herding cats. The only strategy I have seen so far is his wanting to throw whatever comes into his mind up aginst the wall and hope it sticks. First there was the strategy wanting to consolidate the Cardium. Then last year he was planning on increasing drilling this year with a huge increase in capital expeditures even though the entire industry has not pursued increased drilling. Well we all know what happened to that idea. The only thing he never seems to come up with is how to concretly and definitively enhance shareholder value ie.a fair valuation or a dividend. If you feel the way I do please write Investor Relations as I have done many times and let Loukas know what you think. He needs to feel the pressure. We will all benefit from your participation. Thanks.