Despite the fact that I have just expressed vociferous...

Despite the fact that I have just expressed vociferous dissatisfaction with some of the actions taken at OGX, there are positives.

We have a JV, we have funding and we have positive plans going forward.

Some of the failures (mining) have been a case of sheet happens, but the processing plant failures have been a case of poor research and technical decisions made (IMHO).  Mark P isn't a geo or a processing engineer, so he has clearly relied on poor advice.  He is probably too decent of a person to point the finger at who or which entity (or entities) was responsible for the bad advice, but when there is such a capitulation and loss of shareholder value then:

-  An apology needs to be made loud and clear.
-  Responsibility needs to be taken.
-  Concise explanations need to be given.
-  Heads need to roll where deserved.

The other issue I have is that now that we have 10 mil or so in the bank, it's easy to employ experts and throw money at problems like its going out of fashion, but that money has to last and we need to be prudent and frugal and in particular -prune dead wood (along with any termites).

We need change quickly, but that change should have a basis in wisdom, not just pure intelligence applied ruthlessly.

I like Mark -he has a great genuineness in his disposition, but I would like him to address and acknowledge recent shortcomings head-on to restore confidence.  No doubt there are all sorts of internal political battles to wage.

Mark has been with Orinoco since the beginning and has clearly built up immense knowledge and good will.  Counterproductive to throw the baby out with the bathwater.

I think a CEO doesn't necessarily need to be a Geo; who are perhaps better suited to operational issues (rather than being bogged down by the minutia of corporate governance issues).

I would jump at the chance to help Orinoco, and would move to Brazil in a heartbeat, but I would never be a party to replacing someone in any stealth move.  Any staff changes need to take place honourably with reputation and goodwill preserved.  

But anyway, thanks for the vote Cocomo  


Cheers,

SJB