Some posts have been deleted here. I guess I’m one of the misfits that was laid off. The company you work for is a complete joke. You think 2019 will be a banner year? Great start lowest stock price in the history of going public, borrowing money again!? Well didn’t that get the company in a horrible position before? Oh yeah it did. Go ahead keep the faith you to will be a misfit before long and you can worry about losing your home and everything you “worked” so hard for. And I use the term work loosely!
4 replies (most recent on top)
CHAP officially dropped below 200 million to 197 million on March 8th. This slow motion train wreck is coming off the tracks and there are no competent engineers at the top to stop it. This has to be one of the best examples out in the oil and gas industry of "What NOT to Do" that we have ever seen... And Frog's compensation is 11 million ! Think about that for a moment, Frog's compensation represents 5.5% of CHAP's market cap...WAKE UP BOARD. Get rid of these slick willie's and put the company back on a path of respect ! Is there not one brave board director that will call this what it is ? Maybe not.
That’s awesome, you are spot on.
Bye Bye Stackarral.
Ilovebankruptcy! you are stating the obvious for anyone wise enough to listen to you. On March 6th, 2019, CHAP hit an ALL TIME LOW closing at $4.45. Market cap is now barely 200 million and falling AND this is with oil at $56 per bbl ! The last CHAP ALL TIME LOW was when oil was at $46 per bbl which was $10 per bbl lower than it is now ! Mr. Market is sniffing out the rot in this company and it is not pretty. The Ex-bond holders now equity holders are the ones truly running the company (It's not Frog ...by the way he is just a mouthpiece that will be the sacrificial lamb before this story plays out). They have no choice but to ride this horse into the ground until it drops. Their original capital investment of 1.2 billion has now eroded down to 200 million in equity and they have taken on another 300 million in debt. This puppies not just sick folks, it is terminal. A complete liquidation of the assets is the smartest thing to do at this point or at least fire all the great pretenders and try to start over. It was great to see the "announcement" of the addition of "senior leaders" in the company recently. Frog's release covered (3) "new" senior leaders with 2 of the 3 having already been there for a year or longer ! Talk about dysfunction, they cannot even get that right. An absolute industry embarrassment and the cancer that is the real reason incompetence flourishes at this establishment is still in place with Frog's blessing...Yes folks, JM is still there although we think he may be campaigning for a position as an executive with a local ice cream firm. That should work out very well...
Do you remember when the frog was talking about being a pure play stack operator? He said there were three pure play stack operators. One was going into bankruptcy, one was coming out of bankruptcy. Sounds like a solid plan. Let’s borrow more money.