Member Info for Callasjunkie

Oops....the "quit" was pasting error, sorry

Ynotdeal, I hope your analysis is correct. Linn wont be the first person to find the job is not quite as advertised! But if he has landed in a nest far worse than his expectations, at best it calls into question his judgement. Not many can have the opportunity to examine the company at close quarters, as he has had before taking the job. SHs have no choice but to let him get on with the job but more transparency is the least that should be expected. If ASOG get the opportunity to meet him or his senior management, I would like to think that some of these questions are asked, and the answers not to be off the record. All the best. quit

Lots of posts as to whether Linn and current Board are competent and have shareholders' interests at heart, a fundamental question. The suspension advice from Afren included the following: " during an ongoing review of the business plan it became clear that the expected level of near-term production is likely to be materially lower as compared to the production assumptions announced alongside the proposed restructuring on 13 March 2015." and " Afren is unable to assess accurately its financial position and inform the market accordingly." Can anyone quite comprehend how utterly astonishing these statements are!!!?? A significant oil producer that doesn't know what its daily oil production is!!! Mind-boggling. It should be at their fingertips at all times. Do they or their partners not have meters on their pipelines!!! And if relying on other operators, do they not receive daily operating statements!!! Whilst Mr Linn has gained the indulgence of some posters on here because he's not a finance man, he was an advisor on the operations side for some time before becoming CEO. If the explanation is that operating partners have the legal right to credit Afren production to themselves in meeting past debts, it is again astonishing if this can be done on a post-factum basis i.e. without prior legal notification to Afren and in arrears!!! If this sort of latitude exists,or whatever other extraordinary contractual situation, its a vital piece of information that should have been explained in the RNS notice. For a company that has done nothing else except examine its financial position, and paid exhorbitant amounts in the process, the inability to know where they now stand financially takes my breath away. ASOG, you have done a fantastic job, as has LDLV. You are actually trying to do the job that the FCA has funked. But I think you should serously question Mr Linn's abilities. If they are not in question, then you must question his motivation. He was, after all, really appointed by some of the bondholders.