Ahjay - lol your not a pariah, I see you just as the advocate to ask the question from the other side which makes sure we don't get too caught up thinking of it only from one side..
With respect to what the board has done, I am not so sure the plant was the issue, I remember when I spoke to Ken Aitken at the AGM in 2014 he said whilst there were some issues with the plant the major issue was really the stuff coming out of the D sands, he used some technical term which went over my head and I cant remember it, but he said most of that was sorted when the B sands came on and the plant started running properly as it was deisgned to. I took that to mean that maybe the D sands stuff just wasn't what the plant was designed to use - hence another issue from the past mob. with ERM transaction, well the only person on the board who would have been involved was Stuart Brown as Tony Iannello would have had to excuse himself because of conflict, and remember at that same AGM, it wasn't Stuart Brown who got up to explain the transaction it was Brett Heading, so I suspect maybe he was something like the head independent director who would have negotiated that along with Ken Aitken the CEO and probably that Quinlan guy as well as he used to be the person who answered all the questions prior to the meeting. Garratt and Vincent cant be held responsible for any of that earlier stuff nor can they be credited for anything either as they simply weren't there.
As for oil price - not sure steering did anything, they took it as it is, they could have done better by hedging the oil price before it got too low, but seen as how they have never mentioned that then they probably didn't do that either. so not sure they steered anything - just went with the flow.
As for Red Gully North issues - well my O&G friends suggest that is a ruse, they said its not that usual to stuff up the cement bond of a well - they rekcon there all these measurements you can run to ensure that doesn't happen and they were surprised that this wasn't done at the time of doing it... I think the rectification stuff is also taking way longer than what they said, first late Q3, then early Q4, now mid Q4 - woudlnt be surprised it blows out to late Q4 early Q1 next year... nothing has really happened on time with these guys, if it happened at all.
I agree that you shoudlnt get vilified for asking potential board nominees qualification but I also dont think that potential board nominees should be vilified for standing either. They will no doubt put their qualifications etc into with their nomination and we can all read it at the same time when Empire puts out their Notice of Meeting. Asking them to do something on the spot just as they hae decided to nominate is unreasonable as well. We can then make our own individual assessments, expecting someone to have the be and all plan now without any knowledge of what is actually happening in HQ is plain unreasonable - isn't it? For me I will be putting my trust in good honest people to do the job properly - when they don't then I will withdraw my trust...at the moment, surely some of our shareholders, we would have more trust in them standing up to nominate than the current board.
As for the plans forward - I think it is alittle unreasonable to expect anyone to come up with detailed plans in stone when they aren't even in there to see what these guys are doing and what is wrong, we cant even rely on information they have provided to the market for all of us as they don't really do that either... I think as Griffonpj says, all you can have is some overall framework to go in there, suss out the issues and then come back with the proper plan to fix it. No good espousing a plan and then finding out what you think is wrong is not actually and its something else.
Me personally I just want good commonsense people to go in there work out what they are doing right, if anything, what they are doing wrong, then work out how to fix it, and communciations is one of the easiest things to fix - just actually do it, if its bad tell us, if its good tell us, the company cant keep treating us like mushrooms when the share price is just in free fall from when they came in.
Expand