I used to be a big supporter of USEG. They really had to work hard at it to lose my confidence and support. When they sold their Bakken assets I decided that was a major bad move - then the Woodbine JV in a thoroughly drilled out area - well that was it. Not to mention the stumbling in Eagle Ford etc. etc. etc. They can turn a silk purse into a sows ear - and get paid well for doing it. The last few times I tried to talk to Reggie he conveniently was unavailable. How could so few do so little with so much for so many? Yea - color me negative.
I worry about the liabilities that go home each night trying to figure out their next move. Especially since the Board of Directors have approved some terrible ideas in the last 3 years. Selling the Bakken, CXPO JV, Woodbine. The gang that could not shoot straight being overseen by an extremely weak Board of Directors.
This co. is a certifiable mess,,,as long as there is a dope at the wheel,there is literally no hope.
I want to see the return on equity ratio of at least 15% not a miserable 1.39 %.
This is a measure of how well a co. turns their resources into profitable business opportunity,managements score card if you will...something has got to change,,,the average shareholder didn't sign up for this,,,they deserve better.