The 10 things that need to be done in order to create shareowner value
I don't understand why the big guys tolerate the state of affairs... In fact there are just 6 or so people who would need to agree to make changes here and they would be made. I propose there are 10 things that need to be done in order to create some value here...
1. Close the London office ASAP and move everyone back to the Calgary offices, review pay accordingly.
2. Drop the AIMs listing.
3. Increase urgency and focus on getting the PSCs re-negotiated, find the go to person who can negotiate this successfully.. this has been going on for far too long.
4. Immediately identify the best suitor for TG assets in Egypt.
5. Leverage our limited drilling capital by immediately beginning negotiations for a JV on the Western Desert concession with the best suitor for TG assets in Egypt. JV to include a Buy/Sell agreement allowing each party to exit at anytime with an offer to Sell to the other party which is also an offer to Buy the other party out at the same price.
6. Under the same Buy/Sell JV agreements find a best fit suitor in Canada to JV the
South Harmattan lease and immediately begin development.
7. Eliminate Board Member renumeration except for reimbursements for actual expenses
incurred. The BODs will have a REAL interest in the company and itís success will be there
8. Reduce the number of Board Members to three. A company the size of TG does not justify a 7 member highly compensated BODs.
9. Make it known to the investment community that TG is NOT looking to make acquisition and will NOT issue additional shares. Further, the company will be entertaining offers.
10. If the company cannot be sold by end of the year for around US$ 200M than transform company into a high dividend yield low cost operator.
But there seems to be ZERO interest from those who have many millions of dollars invested here to see any improvement in their outlooks... Just amazing to me.