stop the rot !!, page-38

Huaneng,

These people have failed their shareholders dismally for far too long. And everytime they got something producing they have sold it off.

I, along with many others here have been involved with MPO for such a long time that I don't care to remember and where did it get me to. ?? Nowhere much to crow about and nowhere fast, believe me.

The latest one, after selling Gloucester and not giving anything in return to the shareholders, and then withdrawing from it's originsl intention of the announced buy-back to support the sp, was a real smack in the face to the shareholders. Why say that they were going to do something, if they had no intention of doing it, is beyond me and beyond belief. I would go as far as saying that they announced the Buy-Back only to try to stop the slide of the sp, which followed the sale of Gloucester. Nothing more and nothing less.
Buy-Backs are usually enacted in order to put a floor in the sp, and stop the vawe of selling following disappointing announcements.

Than to find out that they have spent all that money, and more, in the Bakken/Spearfish operation without getting us anywhere worth talking about, is enough to drive anyone mad.

Surely the God these people should be held accountable for buying the Bakken/Spearfish operation without doing what I believe is proper due diligence. Now don't say that they did, because if it was the case, they would have realised that what they bought into was nothing but a hot potato and being totally conned into by the sellers who are currently laughing themselves silly all the way to the bank, while we are going backwards.

As someone just wrote, not only Beard and his mate should go and be put out to pasture, but the CEO and CFO should be pushed that way as well for failing to see that, and recommending it to the Board to proceed with that venture.

Time has come for us to get rid of them altogether if we are looking for a chance to get somewhere. One thing is for sure. And that is that we definitely will not be worse off by voting in someone else that have got skin in the Company, (that they paid for with their own money), the same as us.

Buddy