Mesa Energy Holdings, Inc. (fka MSEH)

[cleverrox]

That is more a referendum on SandRidge than it is of the MS Lime. SandRidge is highly, highly leveraged and they have painted themselves into a corner trying to grow so fast.

So far Mesa hasn't gone and spent a ton of cash to get land they don't have money to drill. The Armada deal though costly to shareholders through dilution - does not paint them into an untenable financial position.

Apparently SD has wasted so much money on corporate planes and executive compensation that a group of activist shareholders are recommending they cut their overhead by 75%!!! A company this size does not need corporate jets. I'd say SD has a wasteful corporate culture.