Re: Is there anything fundamentally wrong?
Historically, management has done very well in GTE through high salaries and stock options. Non-employee shareholders, not so much. The investor presentations and the frequency thereof leave much to be desired. In particular, follow-up on drilling progress is disgustingly slow. Management needs to do a better job of articulating an endgame (or exit option). To continue to burn cashflow on drilling projects at current oil prices without such articulation leaves investors with little, if any, incentive to invest in the Company unless one views the underlying asset value to be well above the company's market enterprise value (therein, hoping the company is acquired by a larger firm). In this light, the Company in my opinion, holds some attractiveness when trading at sub-$2 levels. I am not inclined to buy at share prices above $2.