So? Do you really think in this Bizarro World political and societal cesspool anyone will be actually held accountable? The only people held accountable in this country are working class whites. Not racist. Truth hurts.
They have hung in there pretty darn well but it's almost over for them (and tons of other US producers). Keep powder dry because once the killing field of US producers is full of carrion he Saudi's will magically cut and spike oil to over $120. Watch.
Oil being pushed down one last time into the 30's should kill off all the Companies that are hanging on by a thread and force many of the ones that are in reorg into total liquidation. After the body parts are disposed of, oil will magically skyrocket back to $100+. Diamond looks to be a good play as there is no way L will let their child die off.
Gotta hand it to Stilley; not only did he con a huge stay put salary, but orchestrated a tremendous bankruptcy reorg scam that fueled a run to $1.20 that allowed him to also cash in on options and shares.
Along with all the others hanging on by a thread. If they had hedged at 50 for a couple years they could have hung on, but it appears they fumbled that too. The final flush is about to commence and it will send shock waves throughout the entire global economy. Enjoy!
The entire bankruptcy and the scheme of common shareholders keeping 65% was an orchestrated scam to run up the price so insiders could unload at 1.20; screwing hapless bagholders yet again. Sorry.
They still aren't getting any contracts! That's the bottom line folks! In less than a year they will have NO REVENUE! Complete liquidation of the company is 90% likely with CEO and CFO draining millions before they kick the carcass to the curb.
Yeah Rockov at LINE knew the company was doomed. Sure wish I had bailed when he did at $9. When Mike Linn bailed at $4 then you REALLY knew the company was doomed. I frankly can't believe CEO Ellis is still breathing. Unreal.
ROFFLMFAO! How did anyone not able to see this coming??!? I mean seriously!? This last run up was purely a ploy for upper management to unload and get the hell out of dodge. Suckers!