Longford Energy Inc V.LFD

Management Simply the Worst!!

[EOIM]

They spent more than $75 million on the asset and wants to sell it for $42 million.

A solid management would have drilled this hole since last year. This is one of the shallowest reservoir targets in Kurdistan and in fact in the world with oil being targeted at 1600 m. Nearby lease by WZR had shown the same target formation to be viable and prolific as WZR tested 9000 barels per day on it.

I am simply shocked with the classic poor execution of this play.

Where is Taxdemicco that keep saying the Fking Billionaires that are in FORBES would bail out the company?

How can Stan Bhart, LFD chairman agree to such a low ball offer ad threatening investors that they would lose all if they fail to accept the offer.

[EOIM]

If these clowns were reasonable, the would have proposed a merger with GENEL so that LFD shareholders continue to have exposure to Chia from a better management. Now, they want to move away from the hottest oil frontier in the world to AFRICA. Simply outrageous!

[rumourmill]

I guess that's how they became billionaires.

[rumourmill]

CanOfCrooks has confirmed to the shareholders that the deal is fair to the board of directors.    

[kaosblues]

One of the most effective redmedies here is to demand a court ordered accounting by management.  My big question is where has all the money gone that was invested in this company over the years. Sure, a certain amount went to maintenance and salries etc. but some 70 million, are they joking.?  Then to suggest that we have to let them have 42million for some hare brained adventure in