When a CEO announces their retirement on a weekend with no prior shareholder notice it's probably not a good thing. This company is struggling to say the least. NG prices are most likely to stay low for some time to come. Selling their interest in the LG plant makes you wonder why they got involved in the venture to start with. My broker still thinks this is the best company ever to bless this Earth but I'm beginning to question his judgment. I'm still concerned about the Michigan Attorney General's investigation. The fact that the board did an investigation and found no collusion with CHK is absolutely worthless information. Their opinion is of no value whatsoever. I'll bet you a doughnut to a dollar that the stock takes a big hit Monday.
Have to agree that the investigation has me worried, sold most all my shares a few weeks back. Also have a feeling that ECA should have put themselves on the block, don't think the CEO wanted to do that based on his statements earlier this year.
I guess thats what happens to ceo's when they make the wrong calls on commoditiy prices and directions to take the company. Think of him as a "frac victim", as its the reason for the sustained low nat gas prices. Perhaps the board thinks the ceo of eca should have seen it coming? Nevertheless thinking nat gas is close to its bottom and perhaps beyond it and goes up in price from here. One hears of all the lng projects and now heavy equipment makers are considering lng fuel for large trucks, excavators, perhaps for open pit operations over diesel. one poster said lng to fuel ships and caterpillar excavators is coming. Of course many of the existing lng ships use lng for fuel already. If eca takes a big drop in price it could turn out to be a good buy.