Monday, January 04, 2010 3:00:29 PM
The only thing I know for certain is that this is the worst reporting of an oil and drilling program from a junior exploration company that I have seen in my 30 or so years of investing in oil and gas companies. If you think it's all SNP's fault or all the JDA's fault go right ahead. And if you think Akin Gump advised them to do it this way that is your right.
My thinking is the whole problem is lack of experience and planning by ERHE management. It is not my belief that SNP did not allow it, it is my belief that ERHE never asked. If they asked and were denied, they should say so instead of pointing to the JOA and pretending they can't because of language in that document. We all know the language in the document and we all know that ERHE has the right to ask to disclose whatever they want.
So the question is, did they ask beforehand to divulge the information on drilling operations (not drilling results) or did they not? And did they ask beforehand when drilling results should be expected or did they not. Those are pretty simple questions and would go along way in answering the question if ERHE handled this properly or not. If anyone can answer those questions, I will shut up.
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