Gaougogl
I also think this whole RS situation is too much, too soon, too deep. It is not "fair" to shareholders for CB to get so much without there having been more concurrent gain to shareholders.
BUT, as bad as it is, I see it as just shaving off some of the upside to what I before saw as an investment with a huge upside. All the talk about sueing, SEC investigations, throwing out the BOD and even the whole management, putting CB in his place, etc sounds to me more like revenge than constructive dialog. Further focus on these sounds to me like a sure way to more completely destroy this investment.
I can live with this investment only going up a few hundred % this next year -- which is what I think it may only do if the RS passes, but creating a destructive battle would result in more severe and lasting harm. I have invested more than gambling money, so I care about seeing some return on my investment. I think that a more moderate response such as Nelderand has suggested would have much more backing than the "throw the bums out" attitude some others have. I understand why many are mad and I think they are justified to have the "throw the bums out" attitude, but I just think it is more emotional and would be less effective (and more destructive) in getting results. I would rather see more of a "negociation" attitude for us to try and get them to give more consideration to shareholders. My gut feeling says that the current 3 wells are going to be good and they feel the results combined with the upgraded drilling/production schedule will keep the pps from tanking after any RS. Are they right? I don't know, but that at least sounds better as an investment than owning stock in a "broken" and gutted company with either no leader or a really ticked off leader.
We all oppose the RS, but some of us are being forced to chose it as the more tolerable solution if the opposition becomes so radical that it is willing to destroy the company. A more moderate approach will keep those of us that oppose it on your side if we feel the opposition is not going to destroy the investment just to get revenge.
Have to run to work, good luck sorting this all out!
Mike
