The Well #4 drive shaft connecting the motor at the top and the pump at the bottom is rubbing the casing wall. Putting in a deeper pump would make this worse. A submersible motor-pump unit at the bottom will work but is more expensive and uses electricity less efficiently. These findings from the recent down-hole survey are in the general manager’s report to the board, along with two pump size options. It will be interesting to watch the board discuss the complexities and tradeoffs and decide which option to approve: Who has bothered to understand the report and strategic implications, and who has not?
Well #8 architectural site renderings will be available at the meeting.
The general manager will report on the annual financial review by Lindsay & Company. Of most interest will be when this report will be done because that affects the timing of the annual meeting. There have been reports that Lindsay’s work cannot start until the office manager finishes a months-long convalescence from major surgery.
In the executive session, there is new matter with the cryptic heading “Corporate Governance.” What might that be about, and why is it in executive session?
Any shareholder may attend this board meeting virtually and ask questions and make comments. To get a Zoom link, email your request to email@example.com. The board packet can be viewed here.
New to this newsletter? Click on the Home tab and read earlier posts. If this newsletter is useful to you, please forward it to other Crestview shareholders so they can sign up to receive future posts directly. Shareholders may comment below.