"tell us the condition of the books, and are they up to date"
as of march 07, the Co had all the Financial info available to commence the audit through the end of 06 ... there remained a number of administrative/non-financial issues (ie: lease assignments) that had at that time, continued as outstanding ... what has happened since ... your guess is as good as mine
"Has there been any fudging or manipulation of the numbers ?"
not knowingly at any rate, by me ... that is not to say that an audit may not ID some issues or challenge certain assumptions
"Can a new manager take over without starting from scratch ?"
managing the records of BDGR, due to its' incestuous associations with other entities (four star, petrol etc)requires that you have a good grip on the reporting of those Co's as well. While there is a frustrating learning curve (the books of the affiliates while being worked on, were in even worse shape than Dragon's), this is not an impossible task.
"Was there ever an audit or just financials with the Ohio connection"
an audit was never started in Ohio ... preliminary documents and statements were sent to the audit firm but w/o the required pymt from Dragon, they never did any work on the project. Also, the info sent to M&B prior to my arrival was totally inaccurate & therefore useless.
"Was Joe manipulating the numbers from the field, in
your opinion? If so in which way?"
complicated answer ... example ... there seemed to be some difficulty (witting or otherwise) making the distinction between Gross Production (that is total production to all his entities)and Net Production (dragon's actual take after royalties, over rides and other interests). There was also a tendency to communicate the most positive spin ... in the macro sense what he wanted to communicate might be directionally correct ... but as it would relate specifically to Dragon's interests it may have been a stretch.
News 
Market Data 
Discover 
