Chevron must be one of the highly uncommon companies Dan Keeney speaks of...
"it would be highly uncommon for companies to detail all the things that were not discovered in exploratory drilling"
For years Keeney has defended management by telling shareholders this is wildcat exploration and disclosure is not warranted, yet Chevron produced a very comprehensive report with its first and only well in this unexplored zone.
Keeney's excuses for management and reality seem to be at odds.
Here is a link to the information released to Chevron shareholders, after 1 well (the first in the JDZ no less), we have 5 wells and squat for disclosure:
There is no acceptable explanation other that ERHC shareholders are being deprived the information that other companies provide their shareholders. This situation has gone on for far too long and cannot be tolerated any longer.
When majority shareholders don't trade their stock, the price is set by the minority that do. Managements must satisfy the minority.