So you want to deflect managements fiscal responsibility and their lack of ownership for shareholder value back onto message board propaganda and opinions and blame the boards for TECO's lack of performance? If TECO produced 25% of what's been advertised in their last two years then bashers would have little to bash and longs would be praising them for a .10 PPS or better. I and others are starting to question where the money from a 1.25B OS worth of dilution has gone because it's not all going to producing oil. Best case it's going towards a oil E&P trial and error management process and worse case it's going into somebody's back pocket. I agree that managers will make mistakes but Microsofts and Exxon's didn't become who they are by PR'ing years of so-called milestones and then only producing 30 BPD from a 1.25B OS. When that changes then I will change my tone! Example: Why would so-called experienced oil E&P executives make CFP claims during the CC based on oil from Mitchell 3&4 alone? They claimed the wells would produce 80-200 BPD and that would provide CFP status? CFP status should be sustainable goal not a one time temporary event. Then in a recent newsletter the company admits that it is normal for well's to deplete it the total barrels that month equated to 31 BPD from the Mitchells? That's what I call conning shareholders into buying. During the February CC the PPS was approx. .015 and not much different 7 months later. If they know wells deplete then how can they speak to CFD during the February CC based solely on Mitchell 3&4's production? They should "shut up, put up and then speak" but they don't seem to learn that lesson and that's incompetence at best! The ratio of promises vs oil production reflects in the current PPS so now I'm suppose to believe that some miraculous change in operations will make the Mitchell #1 and Stockton's huge winners because TECO management or pumpers say so? I really hope they do make a huge difference and bring in 200 BPD and much revenue. In the meantime I need to deal with today's reality because I can't sell if I wanted to and that is unacceptable? Let's just see if history repeats itself or not. Let's hope lessons have been learned and the future is more successful than the past. In the meantime I will call it as I currently see it and until that changes with solid proof of improved revenues, timely filed financials. SJ3 could change my perspective around 360° and I will praise their success if SJ3 produces but until then it's been unacceptable. As far as Warren and Lee S. are concerned; they left TECO because TECO wasn't worth their time or expertise to warrant the titles and experience they had. These individuals can put their talents to much larger and more profitable ventures than TECO. I'm not sure what value they were able to offer TECO to begin with. Let's hope they hold onto their shares because if they do then that will speak volumes for their confidence in Reid and Gwyn and all these consultants. I assume if they hold their shares then they will want to provide as much help to TECO as their time allows. Lee S. and Warren can't be too happy with the PPS either unless they purchased .003 restricted shares or preferred shares worth $1.
So you want to deflect managements fiscal responsibility
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