The last CEO was an ex-YMCA guy, what do you expect. His biz plan was to simply jump on ANYTHING in vogue or popular at the time in order to entice investors... from being a Power generation company when deregulation started (a laugher), being a rig company (kiss of death for a little under funded natural gas company), and a tar producer from old abandoned fields (another kiss of death for as company with no experience EVER at it and highly under funded).
Hey, I don't feel sorry for the Opus members even though they lost many many $10's of millions because they put that industry ignorant/layman carnie barker on a pedestal and threw many $10's of millions at every stupid idea he concocted, whether he had any experience at it or knew anything about it. Even if professionals TRIED to set hm straight his ego wouldn't let hims listen to reason and of course the Opus members bought in hook, line and sinker, so why bail them out now?
I say, TIV should sell PV right now to anyone (Venoco? Oxy? Bob Bell?) and split proceeds, if any, 75% Opus and 25% TIV, because thats the current deal before the BOD's give away the farm! Then the Opus members are gone and TIV gets 100% of everything else.
That was just my humble opinion folks and no facts inserted..LOL
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