Ann: Corporate Presentation, page-243

fair call tmb........I think I am guilty of getting somewhat frustrated after reviewing this company's long term management performance and SP performance, which generally mirror one another, and then seeing the same posters that have been championing the companies prospects for years now using metrics that are not achieved yet, talking up the price of oil and saying the past does not matter it's the future that counts.
I genuinely have my concerns for those that hold more than a small part of their portfolio in this share.
The way the stock has trading on the back of a rising oil price is truly alarming.
I don't agree that it is completely on concerns of the debt levels as many suggest as this has been well known by the markets.
The latest poor performance of the stock coincided with the announcement of the bottleneck issue and changing of the production growth plan. Given the managements poor decision making history it all seems to make sense that this is behind the current SP behaviour.
I personally have never seen a company with this sort of lengthy poor management track record whilst retaining the same senior management turn itself around. I am sure they exist but more often than not they tend to underperform.
Worse still is the hail mary debt burden for growth strategy.
Perhaps I am being too cynical as I do believe a lot of poeple learn from their mistakes and many companies fail because management are largely ego driven.
The CEO does not appear ego driven to me so lets hope he has learnt something whilst collecting his rather large salary whilst destroying SH wealth in the past.

One other major concern I have is senior management, whilst owning differing amounts of shares, over all they have very little skin in the game. I am sure someone on here will challenge this statement if my research is incorrect.