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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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Message: Re: Take a Deep Breath
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Oct 19, 2009 11:32AM
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Oct 19, 2009 10:04PM
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Oct 20, 2009 01:04AM
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Oct 20, 2009 01:31AM

Marlboro:

I empathise with and for Gusella. However, at the end of the day, the decisions were Gusella's. It was he that determined to shut production down. A decision from which we still have to recover in lost production and innumerable added costs. Petrolifera is demonstrating itself to be a similar millstone around our collective necks. The dilution of our stock has become absolutely legendary as the ongoing management steps have impacted the SP and financial resources and health of the corporation.

Yet, there never seems to be any negative impact on top management. With every bit of bad news, they mereley do another refinancing and pick up more free shares through their option plan. Meaning we the common shareholders are once again diluted. But not management as they arranged to be exempt from the effects of dilution. Even dilution neccesitated by their own mistakes.

Within any framework which contemplates a sense of fairness and justice, management should be held to account for their failures. Yet, they have fairly well immunized themselves from being held to account for their missteps and have succeded in making the common shareholders the only group to bear the pain!

Brian

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Oct 20, 2009 09:36AM
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Oct 20, 2009 05:28PM
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Oct 20, 2009 07:36PM
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