Hey Davo,
Thanks for the post. I think I see it differently because i got in just a little over 3 cents. So everywhere I see is up. Unless the new directors are elected, they review the assets and the financial position of the company and decide there isn't time to raise money and not enough time to drill and the leases are lost. This is why I would prefer the current directors or some sort of hybred between the two.
In my experience any management change equates to long delays while they get their hands around what they have. If they come in and say "full stop" they are going to need to come in with butt load of money in order to pay the overhead of the company, overhead on the Jack-up, and if they don't drill they are going to have to re-buy the leases. That probably is going to be expensive if they are bidding against Apache or Hillcorp. That would get me to sell what I got, watch it crater and then if it survives Ill by back in.
I am planning to attend the shareholder meeting in Houston since I need to be there anyway on business. I will be interested to hear what they have to say and what the plan is going forward. Because unlike long term holders, I only care about the future.
I see lots of talk of the Devil I Know vs. the Devil I don't; What I know is that the Devil isn't involved and that I want to see this move forward and not be pushed into divesting half its assets by default. (losing the leases)
