bullish view on us gas prices, page-5

I dont think that is 'bending the figures'
you wanted to talk about growth !!

SP has been terrible sure (not really a measure of growth imo)
Divvies- would rather see debt reduced than pay divvie
ARW ancient history, I dont think AMU was the only oil stock to get swept up in the biofuel disaster

I am not suggesting that the board must be right, what i can see is that over the last year or so the board has tried a number of strategies to try and arrest the sp fall under the most difficult of circumstances.
They now seem to accept that debt is the 'monkey on their back' and the reduction of that debt is vital in protecting operating cashflow in order to maintain exploration and development drilling. The only alternative to a cap raising is asset sales in order to reduce debt
Hindsight is a marvelous thing.
I see the article you posted, a board spill eh, looks like this is going to get messy. I dont see any mention of an alternative strategy, this will just be an expensive waste of time and management focus imo. What experience do CVC have in running an oil and gas Co ?
Do you think a rights issue would have been well supported ?
I would argue that new shareholders with an eye on the future rather than being mired in the past is exactly what the company needs