Oilman - do you have insight in to the full picture? If there was a cover up then under FCA can claim claw back against previous directors. Maybe it is time for the PIs to hire a legal team. Hard to say at this time if its corruption or incompetence.
Accepted. But if GKP does go down JF will have to explain why. It's looking like it's the Devil or the deep blue sea. And is he likely to opt for arbitration? Nothing so far would lead me to expect that he would.
Just one point before I go to bed, Jon Ferrier was interviewed (just after Kozel got the boot) by Andrew Simon and Simon Murray. He was kept as the CEO in waiting behind the scenes as I believe John G wanted to see the year out before retiring, I don't personally think that Jon was given the full picture of what had previously gone on and when Murray suddenly departed I think the full and whole picture began to dawn.
I've been thinking about why JF took on the CEO role. He's been a company man during his career which means leading a very different corporate life to the ninjas like Kozel. In his late 50s, it's going to be very hard for him to suddenly become a different type of business animal. Who else applied for the CEO role? I don't suppose anyone knows, but maybe the ninja types avoided it at the time, knowing it might be a poisoned chalice? What would have happened if JG retired and no one applied to replace him? Promotion from within? I think it's time for shareholders to actively support/encourage the CEO and BoD going down the arbitration route. Roll the dice and call the KRG's bluff. What's to lose?
"Gulf Keystone Petroleum (LON:GKP – 5p) – Strategic Update: Today's news from the Company underlines the pressure that it is under to maintain operational integrity in the face of increasing balance sheet pressure. We believe that the asset, even at current prices, can support the debt in cash terms, provided that the management team are given sufficient headroom to sweat the asset. We have no doubt that this news will provide a headwind to the shares, but in the longer term, we continue to believe that the core of the Company remains robust."
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