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Lickety Split

11/04/10 2:26 PM

#227617 RE: TOB #227614

I disagree. I think that they have had more than ample time to respond and the least they could do would be to acknowledge the letter. If I were Midtieroil, I would consider sending a copy to the SEC and ask why the BOD is not living up to their fiduciary duties by addressing those concerns. I doubt it will happen, that they acknowledge anything because of their arogance toward shareholders. At least Midtier gave it a try, using the methods outlined in the bylaws.

Strass
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sneak-attack

11/04/10 2:32 PM

#227620 RE: TOB #227614

TOB: I also agree with your view on the letter.


Sneak
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exceo

11/04/10 5:26 PM

#227630 RE: TOB #227614

TOB: Thanks for the reply. I am not aware of some of the things you reference so I can't comment on them except to say, if true, I would agree with you. However, as a former director and chairman of the board of a public corporation before my retirement, had I received such a letter I would have had the courtesy of sending a return letter stating it would be discussed at the next board meeting. I NEVER ignored a letter from a stockholder and answered them all, even those that were annoying and discourteous. JMHO

My best to you and yours
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midtieroil

11/04/10 10:08 PM

#227639 RE: TOB #227614

So you think it is appropriate to not even respond to shareholders and let them know their letter was received and will be acted on in due course. The reasons I called was to ask if the letter had made it to the BOD and who the "secretary" of the company was and who was responsible for forwarding it to the Board. No one at the company including Dan Keeney had any clue who the secretary was. No one at the company had a clue whether the letter had been forwarded to the Board. No one at the company had a clue when or if we would ever get a response from the company or what the time frame was. Instead I was told I was only writing and complaining because their names were not Smith or Jones. I was told the BOD could not "drop everything" and respond. I was told that 40+ million shares made no difference because there were over 700 million outstanding. I was told they had no clue if the BOD ever got the letter or would ever respond to it. And all of this response was by an officer of the company.

If you think this is the proper way to run a company, you are sorely mistaken. We followed THEIR rules and were very professional in doing so. The problem is with them, not with us. The fact that you would condone that type of behavior is shocking and telling. This is no way to run a company and anybody who knows anything at all understands that.