I think there's a case for putting the RC factor aside for a while. While he has a reputation, he also has a reputation to protect, BUT, it goes no further than that. As far as I'm aware he has no skin in the business that he actually paid for but that said, this guy is no fool.
As for the other personalities and their respective clout on the board, I wouldn't have a clue who the dominant force is outside corporate norms.
Clearly and irrefutably, drilling the AO was a monumental mistake, but its a mistake they will not (better not) make again, thus the push to do an EFS Hz.
Hindsight is a fabulous tool for error correction but not avoidance. You gotta make the mistake to learn from it. Whatever 'expert' held sway over that decision will never have quite the same authority or influence again.
As you mention, the insolvency discussion is parochial nonsense. The company has assets that exceed its MC, cash (inadequate to meet discretionary goals short term?) and to my knowledge no debt.
AKK Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held