Last week, there was over 50% of the company traded in 2 days. I would like to know who was buying then.
Regarding management doing everything wrong, I agree now
Got a non-compliance notice for lack of information
When they finally released last year earnings, we found out that they managed to agree one waiver (Going concern), but if no agreement on amended covenants wev would be in default anyway
Since then, based on what we know we are in default
No information on what drilling plan is for 2020, even though we are 50% through the year
No information on production / earnings profile over the last 6 months
If management think that not disclosing this information is assisting the share price, perhaps they are too arrogant.
They have created so much uncertainty regarding SNDE, that I knowing we are in default would actually remove some uncertainty.
Maybe their plan was to push the share price as low as possible (through lack of information, and mass uncertainty) to be able to pick up 10% shares at 3.30..... to reduce the value of the 10% they are seeking.
Or that 10% is saying to us, either give us 10% or we aren't fixing this ship.
I think they've all got to go. Put @cmonaussie and myself in and we'll fix this ship. It really can't be that hard, especially since the only solution is higher oil prices (and no one is controlling that)
SEA Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
