Saturday, December 04, 2010 11:12:30 PM
WHY?
They've never been straight with us before. Why should we think they are now? I will say this, if the JDZ is a no-go and this is their only way to continue as a going concern, then there is a GLARING need to get rid of Ntephe and get an oil man in as CEO. This could see single digit pennies, but with a turn-around oil CEO and Les Blair guiding in West Africa I would be confident in the future. At least I would feel they could think for themselves and produce something more than lips on SEO's buttocks!
Everything about this smells of a plan to build up the JDZ for years and "aim" for dismal results to annhilate the minority shareholders. Was that the Feltang connection... some kind of back room deal with SEO to go along with a "worst case" scenario reported by the Chinese to take out as many minority shareholders as possible, saving Sinopec billions?
None of Ntephe's actions for the past year have matched anything I have seen any other CEO do anywhere. Either he is THAT incompetent or there is a plan in motion.
I don't think he is that incompetent, most con men aren't.
Where is the BOD oversight of Peter Ntephe? Shareholders need the Boards protection NOW.
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