Hi Brian;
In answer to your question concerning manipulation and victimization of the shareholders either rebels1 was correct when he stated in a previous post that:
"Another and more likely scenario as that the window to effectively renegotiate the debt is very narrow and that the window openned before they anticipated. There's many reasons negotiations started early and in most cases the financial companies involved have more control than companies lookind for money. My guess is that they wanted to get debt restructured in advance of the end of June when QE2 ends and many predict a double dip to start." or this is all just a coincidence, a concurrence of a number of factors aligning at the same time. I really don't know anymore. All companies give "free" shares to their management teams whether they drive the company in question into bankrupcy or whether they build a company up and the share price goes to great heights as a result of this. As you know, it is SOP in the oil and gas business for all management teams to feed at the trough on the shareholder's largess. Politicians do the same thing. Whatever the cause of Connacher's shares reaching their yearly low again last week, you and I and everyone on this board I am sure are getting tired of all of this...........
Yet Connacher management harps on the fact that they have created value for shareholders. They state in their press releases that if you buy the shares at $1.10, yes over 6 months they will go up in value, 10% 20% 30% 40%. Management doesn't believe that we should hold these shares long term as there has been no long term value in the share price to date. We all know that. The big question shareholders need to ask themselves are why do we hold CLL shares when we know something is not right. As a shareholder when you lose confidence in management, it is time to move on. I expect that many retail shareholders have already reached this conclusion and for the rest the time is coming soon.
Cheers; Scott
