There isn't a fundamental problem? The CEO essentially JV's a great portion of the best properties for almost nothing and he acquires properties that leave a lot to de desired.
So where is the direction of this company? There isn't the "appearance of a lack of direction", there isn't any direction. At what point TomPaineFan do you start questioning the management of this company?
Lets see your current money is being used on a property that the CEO and a director of the company owns in another entity. Hmmm...who gains the most out of this deal...if the property is a great one...the CEO and Director....if the property is a dud....the CEO and Director (because they didn't put up their money to do any drilling and they keep the NSR)