Re: Black-Blood
in response to
by
posted on
Nov 26, 2008 04:51PM
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re duncanmcl thats about the way i see it. most cos raise cap find some small low flow wells, start a cash stream building slowly , get on there feet and then dream /go for the pet project. these guys went big right out of the gate.these guys have a bunch of projects and not enuff cash , steady changing mgmt(a good thing), and about 4x the shares that they should have. why tyrkalo left means nothing to me as thats how it is in the patch. with prices down they are planning on hooking up the gas first and going after the oil 2nd. interestingly why didnt they isolate the oil zones in the wells they have drilled?i figure the oil has been flowing into the fractures ever since they have been drilled, where ever it has gone it is not under pressure anymore.possibly millions of barrels.if mgmt had isolated the oil zone they could have easily produced and wouldnt have needed all the partners or the resulting doubling of shares.the 49 oil wells they bought a few years back cased down to 800 ft, they recently sold. mgmt gets no pat on the back from me. while it may not be current mgmts fault of the cos track record it is there responsibility to fix it and reward the shareholders who back them. i have no axe to grind with brown but cawker has been there long enough to have done a better job, no doubt he has learned a lot along the way.as for the moriarity dealings , as ceo/pres bc's family life comes last, the price you pay for the job. my b/inlaw worked as a cfo for 15 years so i know firsthand how it goes, company first.ya i read what sedar had to say. read it all = 6 years and no production is the bottom line.hopefully thats about to change.