I have been mostly a silent shareholder of LSBR since 2011.  Over the years,  I have personally questioned certain things about Briscoe, but his faithful followers here have dismissed anything negative that could ever be suggested about him.

I remember asking once why Briscoe's salary was not disclosed as are most CEOs' of publically traded companies.  One fellow here threw verbal rocks at me and called me a troll.  So, I backed off.

But now things are coming out that show me my suspicions were not just a result of disappointment.

Some of the things Briscoe said in his Open Letter are really telling.

I think that before loyal followers of Briscoe pick up the torch to defend him, it might be a good idea to re-read what he said.

Why would he be sued for withholding personal intellectual property and old vehicles once used for company business?   Briscoe was an employee who was paid for years (an undisclosed amount) for his "personal intellectual property" and any information relevant to the company should remain with the company when he (or any employee) leaves.    As well, any old vehicles used by the company belong to the company... why was he not turning them over?

Why would Briscoe resign rather than sign-off on a required SEC form stating that nothing illegal had transpired the previous year?   first of all, why was that in question, and secondly, why not sign off on it unless it would possibly incriminate him?   

Why was he advised to have a lawyer present with him when he attended board meetings?   That sounds to me like he was being given legal advice for a reason.

Why would a number of investors now be coming to him when he is no longer the CEO or on the Board? and where were they for the past 10 years?

How is it that he can get $10 million for drilling right now and $10 million ad infinitum as long as he is put back in charge?

There's more.  Almost every line he writes invokes questioning.

This is all very fishy to me, and before people pick up banners to get him back, I'd strongly suggest that you re-read what he has said carefully, and find out the other side of this Open Letter information.

Personally, I believe we are in much better hands now than before, and I'm grateful for it.