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why was it fired -- now

  1. 430 Posts.
    lightbulb Created with Sketch. 26
    I was reading the announcement of ITs firing carefully
    so it states
    "the position of Managing Director has been made redundant and accordingly Ian Tchacos has ceased employment effective
    TODAY"

    that firing came in with a sense of urgency - there has been no indication to suggest IT saw it coming.

    Quite interestingly Steve Lowden bought a few shares on the 10th of december

    then the announcement reads "In particular, Ian Boserio who has substantial exploration experience through his long
    tenure.........with Shell, and Steven Lowden ........will provide valuable direct assistance with the COMMERCIALISATION of the Crux asset.

    I just want opinions on what others think could be the possiblities behind the walls ... i was thinking that it could be one of

    1) Tchacos has not been doing much at all ... and Lowden is acting as an interlocutor for a third party. The credit should not be given to Tchacos

    2) Tchacos is an impediment to a deal, which he thinks undervalues his baby ...... but others just dont agree (renders his options useless)

    3) Tchacos wants a liquid stripping project -- others want a the shell LNG project, and progress onto further organic growth in other areas like Echua Shoals

    4) Mitsui wants to buyback but has severe differences with Tchacos including price -- will not do business with a company run by Tchacos

    any one with better insights?
 
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