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Friday, December 28, 2012 4:54:20 PM
"it points out that we are producing Oil and more wells coming on line and that the Oil volume was not just from a single well." Actually, it doesn't say that a single drop had been produced by any well when the press release was issued. It says "more [oil] will be added each day based on current production". That's in the future tense; there is no prior production even claimed, and no source named for the twenty-six barrels. (Nobody cares how many tanks the company has, nor how big they are.)
Then we read, "There are currently a number of active wells that have been reworked and are being pumped, each producing varying amounts of oil." That's "are being pumped", with no starting date(s), which could mean as of the morning of the press release. The "varying amounts" are a real knee-slapper, especially considering that nothing more definite has been added to that non-estimate in the twenty-three days since the press release (and most shareholders evidently believe, as intended, that production began at some time substantially before the press release was issued).
"... if the whole idea is to just pump investors to buy junk, they would have done a much better & fluffy PR." Why? The press release, as done, was plenty good and fluffy to encourage the few people that could be encouraged by such stuff -- indeed, they proudly quote it repeatedly -- and Matousek definitely knows his audience. He presents exactly the kind of non-information and misinformation which has always worked in the past, and he maintains his plausible deniability for the day when it turns out that Drake has gotten nothing out of any oil production in Pennsylvania. From his standpoint, that press release was perfect.
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