One cannot escape the fact that the appointment of "the cooler"...

One cannot escape the fact that the appointment of "the cooler" has been a bad move for the company's shareholders but a great move for any potential acquirer in the wings.

IMO, "the cooler" has not appeared to add any value whatsoever and today's SP is a glaring barometer. Beneath post U1 stellar announcements in 2011.

The fact that so much forward strategy throughout 2012-2013 was focused around the acquisition of the new purpose built rig and the subsequent about face post U3 was the major trigger.

The tone was like this..."we haven't been doing much and were currently not doing anything because we need the new rig. Once we get the new rig it will be all systems go for the drilling strategy. Etc. etc."

The aforementioned about face evidenced how flimsy the company's strategy was or alternately how feeble "the cooler's" nerves were under the pressure of the U3 result.

For mine. the recent demotion of "the cooler" evidences that all is not well internally however, thank our lucky stars ES was willing and able.

Put your hand up if you think "the cooler" should be politely asked to leave.

Personally, I've got two hands up right now and I'm hunting and pecking with my nose as I bash my head against the keyboard out of sheer frustration.

Regards

JC