Sounds like a case of irrational bitterness after a risk has...

Sounds like a case of irrational bitterness after a risk has gone badly rather than anything based on something substantial.

I do believe they thought the wells were going to be good producers, or at least had an acceptably high chance of it. How much of it was bad luck and how much of it was bad management, inexperience and stupidity I don't know. I don't see what they had to gain from deliberately drilling bad wells. The directors are shareholders too, and I don't see any reason to think they siphoned company money into their own pockets, so they've lost money just as we have. Perhaps they don't deserve their wages, but then again, if things don't improve soon they'll be looking for new jobs and with a bad smear on their resume.

The regulators are pretty useless, but I don't see that they have failed us in this case. It's really just another case of an oil exploration risk not turning out the way we'd have liked.

All our eggs are in one basket now because we don't have enough eggs to warrant multiple baskets.

I am massively down on PYM, it has been the biggest financial loss of my life, but sooking about it and throwing a tantrum by accusing innocent people (well, some probably guilty as sin but innocent in this respect!) of being responsible is just silly.

We knew the risks, we were there to take the profits if they came, now it's our place to shoulder the losses. Hopefully we can do it with our dignity intact. Alternatively, if our one basket of eggs turns out well, I suppose you'll be congratulating everyone on doing a wonderful job and pretending you'd never had your ranty tantrum ;)