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Wednesday, March 26, 2014 8:39:20 AM
Did you also happen to notice that the absurd claims that they have a 4 million barrels of oil/60 BCF prospect (announce 2/24/14) that has now magically been reduced to 3.2 million barrels/41.1 BCF? in today's news release (only one month later)? This amount for a single well is still astronomically higher than any other well ever produced in this area - making even this reduced claim is a flat out lie...it ain't gonna happen.
This is not the first time the company has lied - last year, they claimed their Alabama prospect was going to produce 400-800,000 barrels daily - an absurd claim that was an obvious typo, just like this one of claiming to produce 441 TCF (yes - TRILLION!) daily!!: http://www.worldoil.com/FTTN_arranges_an_independent_reserve_report_for_Alabama_well.html
Even taking into account that the company claims the well will produce 400-800,000 total over the life of the well, the production figures and decline rates, simply do not support this ongoing claim by the company.
This company is so inept and clearly has no idea what an oil & gas company does.
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