Here is the problem as I see it:
1) Superior has creditors lined up at the door.
2) Superior will be lucky if they are able to remain solvent as a business.
3) Superior has very little to zero income to this point.
4) Don't worry about Superior showing a profit or making all kinds of money that common shareholders are untitled to. Simply because they haven't made it yet and they are not going to.
5) Common shareholders have financed nothing here, (you bought stock that was already trading, it was not issued to finance the wells or company) unless you purchased part of the lease and bought and paid for your appropriate amount in the well, just like JRT, myself, SE and many others.
6) This whole process is running about 6 to 8 months behind schedule. I haven't been getting checks yet. Devon has not released money to anyone that I have personally communicated with.
7) A major stockholder who holds over 18 million shares did give Superior money needed to start the audit. I hear that he sold his interest in the 4 wells and has not gotten paid back yet. (Unless it just happened recently. I do not speak with this gentleman on a regular basis)
Do not read this and think I'm sticking up for management, because I'm not. There has been zero effort put fourth on several different fronts. The CEO is not a strong business person or leader IMO. He needs to step up to the plate and be a leader. Communicate, it's not that hard. Return phone calls and emails to gusher participants, post some news on the website, etc.
