Portee-

Thanks for the rec. I gave you one too- You said some things better than I did, and brought up some more good points.

It all comes down to a lack of focus, poor use of funds, and poor or nonexistent communication.

I was disappointed in the seemingly scaled back drilling program this year. They're burning through money just for salaries and admin costs no matter what, so there's little reason not to get as much drilling done as possible. I was hoping for at least a few more deep holes, maybe targeting the intersection of the GM and Lucky Strike or extending GM. Instead, they're off drilling other prospects that are at best a year behind the GM.

I had no problem w/ buying the Kodiak Hotel. Seemed like a sound step in a long range plan. As to the helicopter use- executives somehow seem to think that their time is too important to spend driving around like the hired help. I know a helicopter is necessary sometimes- but it's easy to start thinking it's necessary all the time.

The poor communication has led some of us to defend the company by saying that it's good management, you have to trust them- Well I have trusted them simply because there was little explanation of what was happening on which to base an opinion. However, the results keep disappointing, the money goes down the drain, and my shares are now diluted. At some point the blind trust gives way to running out of patience. Selling at the low is ridiculous, though. Maybe if I'd had more information back when Kodiak was at .90...

As the owners of this company, the only way we profit on our investment is if the share price goes up. At some point Kodiak simply has to begin doing things that make this company more valuable.

spiny