Ann: Canadian Operations Update - Gryphon Well, page-32

Over confidence in a belief that the T10 shareholders will vote the board back in as the company is making lots of money relative to Market cap and David holds the belief that increased earnings will results in a higher share price and he will get to keep his job.
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But the enterprise value now being at -10% of market cap causing a lot of frustration for holders including i suspect some of the T20 holders.
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Even with the increased earnings and positive announcements I think their is a risk the share price will not rise quickly enough to satisfy some holders and therefore a risk of a new CEO/board being voted in and the risk/uncertainties that entails and this also will be suppressing the share price. A bit of self fulfilling prophecy.
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as AlisCrazy said
"Even the threat of losing his job won't get the MD to buy any stock, what's the go with this? Why will he refuse to buy any stock at all? "
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He took other roles up as CEO and as a chairman at 2 other companies, has not invested any of his own capital and it will be a while before a first dividend is paid out to giving a share of the companies profits to share holders.
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Their is no catalyst apart from earnings growth to get this company moving.
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I think share price will trail Current asset value as it has been doing for some time and current asset value is rising strongly.
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Initial production results of Gryphon if good will confirm the company can repeat making money on wells.
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If David brought some shares and then issued a initial dividend equivalent to 2 to 4 weeks of revenue paid then those will should have an impact on the share price.
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Look at what ATP did, It was extremely undervalued and after a dividend and CEO buying in the share price went from 0.025 last year to 0.18 yesterday. With the dividends factored in that is over 800% profit
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David could make a lot of money for himself very easily if he brought in ,issued dividends, brought in again ...then sold.
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Maybe someone should suggest that to him.