Member Info for slingsandarrows

Is the current management doing a good job? Do we want a steady as she goes approach? How can we attract the necessary talent and agent for change if the failed Chairman and Board remain unchanged?
We need a strong independent CEO with a clear road to take the company forward and will only get this if there are further changes at the top in the near future.

As well as "bad Luck" with CEOs we have also had "bad luck " with Chairmen. If Japp stays we might as well have another well meaning but ineffective CEO with engineering knowledge. If Japp goes we should appoint the opposite.

The company went backwards in every area of management when the current Chairman came in. The new CEO will have no chance unless the Chairman leaves before his appointment. Time's up Japp or it's the continuation of the doldrums.

SC yes but no but doesn't asset value per share compensate for that?

The choice of and the ability to manage by the new CEO is tainted by the fact that the Chairman has so far decided not to resign. I think he should have been the first to go as the performance and approach of the company has deteriorated markedly since he arrived. With him still in place we are less likely to get the strong, independent, proven leader we need and whoever it is he is less likely to have the room to manoeuvre he needs.
Time for the people that matter - the major shareholders - to act again.

Why not now look forward rather than backwards since that is much more relevant to our company and our pockets. What sort of CEO do we want? What would be his early to do list? Any thoughts?

Inv, you talk of a common denominator in all this and of course there is. It follows that there must be a case for GKP and the others to use their combined power to force change.
Incidently I have long held the view that GKP would be much better with a partnership or strategic alliance with one or more of the players in Kuurdistan. What do you think?

Thanks Solarfire, maybe this BOD will no longer get away with murder( just manslaughter??)!!!! Seriously though it is good to see the checks and balances kicking in. Hopefully they will have to listen more, communicate better and earn their not inconsiderable keep.

Solarfire, could you please detail what 2 ,5 and 8 were? Cheers

With the AGM coming up soon and with the market knowing how well our Board can communicate a strong and positive message it is really hard to understand. Hmmmmmmmmmm

Out comes the report and accounts - a real opportunity to restore/build market confidence - and what happens? share price further down.
By their standards of doing a good job no doubt the Board are more than satisfied .ERRRRRRRRRRRRRRR!

SS is the fact that he is Dutch relevant????

SS are you sure you are right? I thought that Astaris/Sothic have other shareholdings including a major one in Petropavlovsk,the London quoted Russian mining outfit and also that they are London registered and based.
Interesting that Astaris has a managing member who is Dutch - now which Board do you know has prominent Dutch members????

Whilst acquisitions are almost certainly a non starter, I have long thought there is a strong case for structural change. I know many,and often rightly, believe partnerships are sinking ships,seeking/working with a partner could bring significant benefits to GKP especially in the current economic and geopolitical climate.Negotiating power would increase, fixed costs would decrease,shared knowledge and shared markets would an advantage,and investor support would be much higher.
The box we are in is not particularly attractive and this is the right time to think outside it.
Good luck Mikey

There has rightly been a lot of criticism of JF - he is well past his sell by date - but what about our invisible Chairman?? What has he done since he came in? The square root of f all apart from driving the company deeper into the bunker and letting events rule the company not the other way round. He should be in the first tumbrel.

At the Paris AGM JF said he would buy GKP shares as soon as it was possible - hmmmmmm.
The man has been an uninspiring but steady leader through some pretty hairy times but a different type of leader is now required - well past his sell buy date.

Invstrat, agree with your analysis. We private investors have little or no power but the major investors have and it has long surprised me that they have not exercised it to bring our weak, overpaid management to book. Maybe the recent share performance compared to similar companies will be a catalyst and they will put on their big boots - - - - and use them!

Why is our share we lagging so far behind the other oil companies in Kurdistan? Is it that the market sees us having ineffective management or is there some other underlying reason or is it both?

Why is our share we lagging so far behind the other oil companies in Kurdistan? Is it that the market sees us having ineffective management or is there some other underlying reason or is it both?

NO No No - pay off debts first or conserve cash