Chatchai Yenbamroong's Letter to Shareholders proposing board spill, page-5

Nothing ground breaking in Chatchai's letter.   If the situation is so dire, why has he accumulated 20% and why has he paid nothing toward the development of Manora thus far.

The other pertinent point that I would like to make to the 'Thai entrepreneur', regards the following statement from today's report -
" These proposed directors all have substantial oil & gas experience having collectively generated over $4 billion in market value whilst in previous roles."

Compare this glowing endorsement with the following which was released last Friday from  Energynews bulletin :-

"Buccaneer Energy
Collapsed US oiler Buccaneer Energy, which is undergoing bankruptcy proceeding in the US, has seen a mass resignation of its board with Patrick O’Connor, Alan Stein and Gavin Wilson stepping down.
Bruce Burrell has also quit as company secretary
US-based Jeffrey Compton has been appointed a director as the company seeks to untangle its debt issues."

For anyone wavering at the proposition that a new Board, including Alan Stein, would be preferable to the incumbents - think about whether we want a director who is willing to run away from bankruptcy proceedings ?

Surely his next gig couldn't be with TAP whilst this goes thru the courts !