Brian:
" It is not I who attempt to deceive people"
Are you implying that I'm attempting to deceive people or DG is? Current SP is not a reflection of the markets appraisal of management, it's an appraisal of the worlds economy and the viability of the oil sands in general. If the market was as concerned with management as you, the recent offering and financing wouldn't have succeeded.
"As Sharky adroitly points out, a loss of 80% of market cap in less than one year, is slightly less than ideal performance"
Yeah like CLL is the only company in that position..How many have gone bankrupt?
"Do the math on the annual cost of that decision. Further, will we ever get Pod 1 back to design level of 10,000 BPD? And if so, at what cost?
You're making your argument based on several assumptions. 1- that production levels will take a long time to again reach 10k, if ever. 2- That slowing production hurts the reservoir in some way. 3- The oil is magically going to disappear if it's not pumped out. Now you do the math.. How much money does CLL lose by selling 1.1 million barrels in the mid $30's as opposed to much higher prices in the future..I look at it as money in the bank, every barrel saved and sold at a higher price is a bonus.
" I expect return on my capital. All would have to agree that under that metric, this as an investment leaves a lot to be desired"
As does everyone. considering that possibly up to 80% of current shareholder paid less than a $1 it is an excellent vehicle. For those, myself included, that paid much more, then it's simply a matter of deciding whether you believe in the company or not. Lot's of people made alot of money with CLL and will continue to do so.
" Given the performance of the past year, should we assume that a different level of managerial effectiveness will be demonstrated going forward? If so, Why?
The market has already given management it's vote of confidence by purchasing $176 million in shares and providing new financing..Only an idiot ( Or a Democrat Politician) would provide that type of financing if management skills were lacking.
YOU STILL HAVEN'T TOLD ME, what you'd do differently.