You seem to have missed the whole point of why we don't get out. We lost so much in value over the years, that on, an if and or maybe it just might come back we can break even, else we would rather take a whole loss. This is concerning investing. But at same time we don't want to take a loss because mgt is playing games. We invested in good faith and mgt has a Fiduciary duty to it's investors. This is why we don't get out.
However mgt has refused to return calls, answer emails, answer regular mails and refused to answer public questions. When they do come out with info., it's vague at best. Look at my prior posting concerning other oil companies in same situation, you'll see they don't waste time getting the oil producing.
It's now about 4 years for me on this stock, after they announced the discovery of oil (4 years ago, oil was at $30+ a BBL, now it's well over $100.00) and they still haven't produced a BBL. In mean time interest rates on loans from banks had gone down dramatically in same time. so getting a loan should have been easy with a proven oil reserve.
Put all the information together and it is plain to see mgt dosen't give a dam about their investors, since they don't put out a financial statement, all I canassume, from my years on the stock martket, is that they are taking monies in form of salary, benefits, fees and other charges they can think of . This is why I am calling for an official investigation by OEC. This can only happen if everyone files a complaint.
Last that was said was that they will make an announcement in 2-3 weeks (this was about a week ago). Lets see what they say. If the news is good, I will be the first to apologise. Until then, I'll wait. However come Sept. 30, 2008 comes along and no announcement. Then I will push again for an investigation. This time I'll write letters to newspapers, business magazine and hope some lawyer will take it upon himself to take a class action law suite against mgt on behalf of stock holders.
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