I think fracking is a non starter in this day and age. Besides what you mention, there is good evidence that it has been the cause of numerous earth quakes. Also, dxi only have a 25% interest --- and where does the money come from to continue the development?
The only hope is that the CEO will be voted out at the AGM or will retire!!!
I expect to see a 30% drop unless CEO is 'dumped'. Bob's 'retirement fund' was fed by US investors - don't expect them to follow him to the TSX!!
My guess is that Bob is headed for the door and the equity raise was to pay him off. This is going and bad news. Good if he is on the way out and bad that he gets to walk away with liquid assets.
I would assume this new guy takes over as he seems to be capable and has invested.
The writing was on the wall.
With this new guy, why do do we need the CEO??? Time for him to do the honorable thing and resign.
Per proxy, there seems to be less shares held by insiders (of course there can be spouses, private cos etc) so possibility that problem exec can be ousted.
I am sure anyone that has seen it will be disgusted. Talks about nothing other than compensation (controlled by three members of the BOD!!!) All about options and bonuses. Vote for directors including those that control compensation - talk about the fox looking after the chickens!
Finally, CEO termination cost given including any take over - that I am sure leaves nothing for shareholders.
As planned flooded with new shares to private entity and insiders!!
Just the world turning consistently according to Bob s plans!!
Wait for next Reverse Split to comply with listing ----+ and so it goes!!!)
I think it's done on the Cdn Exch
Yes orig is in the best position of any driller, considering (a) Current contracts and penalities as may be.
(B) cheap rig purchased as distressed sale. (C) amount already recovered on capital investments (d) low float
(E) low break even.
Without any new contacts should be profitable for the next three years - what price will oil be then?
Great position provided George does not make off with those (drys) shares that were bought.
Where are those 9cent shares?
Yes, nice to get 9c shares -7% commission!! Maybe selling old shares to newbie suckers for 14c.
Ripoff on all fronts - what's new!
Had a very interesting and long reply from 'SEC'. They are also puzzled by GE's transfer of shares to subsidary.
Sentiment: Strong Buy
Should have said ORIG shares purchased from Dryships.
We need them away from GE.
Sentiment: Strong Buy