Shouldbe, It's not negative slant of posters.
The timing of Mr. Carrillo's departure was horrendous. The negative slant is in the stock price, is not due to what others are saying or some negative slant.
Due to the timing of the press release of Mr. Carrillo's departure, the stock has taken a big hit. As we have seen from today's report, a good number of short shares are being covered because of this poor timing. He could have stuck around as CEO until after testing began. He did not have to be in the office to continue as CEO. Mr. Guinn has been filling that role for months now as the past few press releases demonstrate. Mr. Guinn has been the one sighing the SEC documents.
Am I still here? Yes!
Have I sold a share? No!
Do I believe that they should hold off testing due to holidays? Yes!
Is it the smart move? Yes!
Could the other 5 zones of interest be oil bearing? Yes!
I believe that Zion has messed up in a few things. Stating that they could not comment on moving a Successful Exploratory Well to production was a big mistake. Very few Exploratory Wild Cat wells move to production. By making that statement, Mr. Carrillo misled long term investors and raised false hope and expectations that it was possible.
In light of this, what would have been viewed as a successful Exploratory Well in the E&P world, MJ#1 is now seen as a failure because it is not yet commercial.
To top it off, in the midst of an SEC investigation, and the view that the well is a failure, Mr. Carrillo, the CEO and leader of the company, the one who made the statement about moving an Exploratory Well to production, decides to depart. That is just really poor judgement and the stock price is showing it.
If this was done the right way, the well would have not been expected to be moved to production. It would have been praised as a huge success, that it found an Active Petroleum System and further testing was needed to prove out the reservoir potential. Then the stock price would have risen. The offering would have been viewed as a positive investment in a potential reservoir within an Active Petroleum System, and Mr. Carrillo's departure, now that he has guided the company to a successful Exploratory Wild Cat Well, would have been viewed as a positive and he would have received the thanks he has truly earned and rightfully deserved.
Instead, due to mishandling of press releases, that is not the case.
There appears to have been no well thought out strategy to what has been stated by the company and that has really hammered the long term shareholders and enriched the short interest.
AI
