Replies to post #53721 on Treaty Energy Corp. (fka TECO)

[SCHNAUSER]

Quote:

"We have a shoestring budget,not unlimited funds to do anything."

Then management should not be rewarding themselfs so richly for such poor performance IMO

[SmackDown]

That being said dloggold don't you think that $52,000.00 a day should have gone into drilling expenses and $2,300.00 a day into general administration? Instead with TECO it was the other way around. For small companies to be successful the investment dollars should get to the work product...not jetting around the world looking to impress people on other potential projects. TECO had the money to do this right as shareholders gave them the opportunity...it was wasted on their $52,000.00 a day in administration costs for themselves and their controlled parties and companies. SmackDown

[Belize Oilwatch]

Shareholders may be aware of past mistakes that doesn't mean they're happy with them or people have been held accountable for them yet.

As a penny start up Treaty have less money than a $10t market cap company to squander. But despite that I have seen a lot of careless spending by Treaty in the past.

Treaty only have so much money to play with and money wasted away in the past means less money to invest in the future and probably leads to more money being borrowed against the future meaning Treaty shareholders will get less if exploration efforts are successful and when field reactivation efforts add extra oil production.

In my view, the quality of a company's management should be judged on actual delivery not promises of a rosier future.