Today's Press Release
Excerpt from Today's Press Release:
"Gran Tierra is currently addressing some temporary operational issues which have impacted our production; the Company is taking the necessary steps to get production back on track and believes our oil reserves and values remain intact as these challenges represent deferral of production; the Company does not believe these issues are related to the underlying quality of the assets..."
In my opinion, management is woefully incapable of efficiently handling our company's existing portfolio of assets. The issues referenced in the quote above are due, in part, to pump failures AGAIN. Despite all of the operational issues, management continues to spend our money in pursuit of even more drilling acreage--which I fear, will merely add to the existing level of operations issues.
I believe it is time for the board to at least consider taking action.