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Lucas Energy, Inc. Message Board

  • winallin99 winallin99 Feb 17, 2011 7:44 AM Flag

    Sold 1/3rd, Management is not trust worthy

     

    Sold 1/3rd of my shares will hold the rest to see if I can get a little better price. Still think this could be a 4 to 6 dollar a share company but have no illussions that management could ever build a bussiness for the long term. As far as I am concerned management screwed the shareholders with the administrative costs in the last quarter. No excuses for the huge increase.

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    • The only thing management is guilty of is not setting expectations. Over 200K of the G&A cost increase is non-cash compensation, in other words Stock. Another large chunk was Separation costs for an ex employee. After you take out these two items you have an increase in G&A of about 230K, pretty much what you'd expect for a company that has much more activity then in the past and is trying to establish a local presence in the area where they are drilling. I only wish I could have added a few shares on the pullback.

    • Touche win,
      I sold out Tuesday I will take my loss this time, and (ASK)tell myself why Lucas!!!! so So many quality oilers why lucas! never ever again. good luck all.. on another note enjoy your 7 flowing barrels per day for 2MILLION BUCKS for the new property aquisititon!!!!

 
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