Good statement.

I'm just wondering what has changed so much compared with let's say since October 2008.Oil price has tanked to 35 but now we are back at 70.They told in 2008 they had enough to finish Algar and dillution was no needed.I think they hide problems which cost them a lot of money then they announce.They were at 10.000 bpd without ESP pumps before curtailing and now they had to use extra pumps to achieve same output.

I always thought if I read their comments to achieve 50.000 bpd how they gonna fix that if they had no money to finish Algar.So let's hope first Algar got finnished asap then if they had the approvals in their pocket for the rest then it could go faster because they need no extra plant .The rest are satellite plants which will use parts of both others.So IF they can fix that there is some hope on long term but I go with all up here that management did a bad job and a fair explication would be apreciated .I think the way they went for Algar's financing in a time when trouble was already in the banking sector was a bad decissions.If they had delayed the project because of the difficult deals to made we were now much better of.Look what we have now.They cancelled the project for some months now too so what was the differance?Perhaps we hadn't facing the huge debt .

They won't tell they did it wrong but it's much easier to search for other financing now on the back of their shareholders.

All in all being CEO of a company is a fine job.If you're doing well you get huge extra with your options but if it goes wrong also no problem.You create some extra shares and you can go for a second round .The common shareholders pays the price.And on top they never feel responsable for their wrong bets.Same as the bankers CEO's .