BCEI CEO "Retires"

[dan_s]

9:03 am Bonanza Creek Energy announces retirement of CEO (BCEI) : Co announced that Mr. Michael Starzer, BCEI' s President and Chief Executive Officer, is retiring from the Company and as a member of the Company's Board of Directors (the "Board"), effective January 31, 2014.

•The Board has begun a search for Mr. Starzer's successor. The Board intends to conduct a review of both internal and external candidates. During this interim period, Marvin M. Chronister will assume management responsibilities associated with the office and act as interim President and CEO pending the conclusion of the Board's search.
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This is rather "stunning". Something happened over the weekend to cause this. - Dan

[mrmuileh]

Dan:

Have you (or anyone else) heard anything further about the Pres./CEO resignation. I'd like to start a position in BCEI, but I want to make sure that news doesn't come out a week from now that someone was cooking the books or some other misdeed that drives the share price lower.

Is it safe to go into the water?http://www.energyprospectus.com/forum/p ... f=3&t=4300#

MrMuileh

[dan_s]

My SWAG is that this is something personal with the CEO. It could be a health issue or he did something stupid at a Super Bowl party. We may never know. I think if someone was "cooking the books" they would have to disclose it. Remember, they are large enough that the auditors must look at each quarter and they have to comply with Sarbanes-Oxley.

Gary Grove and Tony Buchanon are the most important members of BCEI management. They are the guys responsible for getting oil and gas out of the ground.

That said, I certainly didn't expect this and there may be more news to come out.

I do think today's rebound on high volume is a good sign.