Let me say, two things. First, maybe, just maybe, CB wanted people to think that they were having problems, until he got the RS done, ownership done, ducks lined up to commence operations, etc... I cannot stress enough how the RS had to be done or CB would have lost his XSS and all that he worked for and was working for. In my opinion, when they started the SEC investigation to change from a BDC company to an operational reporting company, CB knew what he had. The clock started ticking with excitement, but he didn't expect the SEC drain or length. Once done, the RS was floated. Once that was done, he was is total control, show shove it. Sole
director/CEO/Head Driller/etc....
I believe little this guys says. Look at the pre RTS promises that he made to get the vote.
Let see what happens with PRI arrangement,this month, and his brothers ownership. Let see how he distributes shares to management, new board members, etc.... Is he keeping this horse harnessed or is he really, really in a ditch? Is he keeping the PPS down for a reason?
This has been said before, and said to me specifically in late 2005, when I visited, you do not want your competition knowing what you know. In other words, if the 3D seismic data and drilling activities show, massive reserves, than hold your horses. Let's take advantage of this information for as long as we can.
Secondly, the real question we all want an answer too is, what kind of O & G reserves do the Barnett Shale properties have? CB knows this information today and has known for some time, at least in guess form, IMO. Didn't JB make a comment to someone about the massive reserves, once they would be announced?
That is why he better be very, very careful on how he plays this out. In my opinion, this is way to easy to prove, if he doesn't come clean. If he pulls another RS type surprise that benefits someone(s), other than all the shareholders, he will have crossed the line, all IMO.
