aka Talley's who despite only owning 40% in the joint venture...

aka Talley's who despite only owning 40% in the joint venture have equal say but to be honest Talleys are are well run company and I think it is mostly advantageous to have them along side.
As for the makeup of registry the biggest issue there IMO is the T/O blocking stake Talleys have bought and the extremely favorable terms large Shers have received on convertible notes and other options.
As for your comments on the management being unimaginative I think that is harsh, got to give them credit for buying solid energy assets for a steal..........unfortunately they are now throwing money at a Canadian venture which IMO is more of an ego trip than a reality.
Still all things considered still hard not to have a buy rating on them