RFE series 2018-1 reds trust

Ann: Appointment of US Advisor , page-9

  1. 2,332 Posts.
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    I think you're being exceedingly generous to management Sharks.

    After the way they have destroyed shareholder value over the last couple of years with capital raise after capital raise after director share issues, they don't deserve any accolades in my estimations.

    They must have known all along that they were spending more than their wells were producing and as such the game plan should have been reviewed a long time ago and not left until the company was in the sorry state it finds itself in now.

    Appointing advisors to monetize assets sounds to me like a euphemism for fire sale and that the knackery isn't too far away. I just can't see how they can wind back the drilling program and hope to produce more income to counter the decline rate of the existing wells.

    Miracles can happen and I think RFE might need one. Agree with Davis that DP and current management are more part of the problem than the solution at this stage. Good luck to all those that still hold.
 
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