Yes - Tracer should have, and should continue to try to pick up some income producing properties (outside Indonesia). Whether or not this would be enough to preserve the listing would depend upon how much income the properties generate, what their reserves are, and what the stock market in general thinks about investing in small oil stocks.
I agree old management have been irresponsible - they have had long enough to make something happen. Because of this, I think that Ed Mowatt did the right thing to step aside for David Robinson: Mowatt had his chance for many years to perform, but didn't, so now it is time for Robinson to have his chance - if the shareholders will allow him.
When you ask "why don't you ask questions of this board?", I assume that you mean the Tracer Board, and not the SI board. I speak with Robinson regularly, and so I have a good feel for what is going on, and I think that he can make things happen for Tracer, if given the chance. However, if the postings on SI are an indication of the feelings of Tracer's shareholders in general, I am afraid that Robinson is probably not going to be given the opportunity, by the shareholders, to succeed.
Did I miss anything?
Saracen |
