wa454 farm in should be anytime post 01 mar..., page-25

I am a new HC member and I haven't figured out how to start a new Subject otherwise I would name this one Corporate Governance (or something like it).
I am looking to buy into the stock after its precipitous decline. It is a question of when OR wait for a capital raise.
I learned a lot from the posts here and I read cries of fire the drilling manager, the geologist and throw money at expert new drillers. All interesting but misguided.
This is a classic "101" board risk management failure.
Exxon can afford to drill wells 100%, not care about the cost, have a dry hole and survive; juniors cannot.
Someone or all at the board level should have asked the downside question: "what happens if we have a cost blowout and a dry hole; can we handle that?" With the risk of a dry hole being (say) 70%, the obvious answer is no, hence the proposition was not contemplated at board level which is inexcusable.

The Board needs to change, the MD but not the poor technical guys. Get rid of the Exxon mindset it has killed shareholder value.
It is now vultures like me picking over the bones hoping for a takeover.