Note the portion of the PR from Doug's post I put in bold.
Chevron lifts lid on Obo discovery
By Upstream staff
"Chevron has finally acknowledged that last May's Obo 1 wildcat in the Joint Development Zone between Nigeria and Sao Tome & Principe was an oil discovery.
However, country manager Tim Parson, speaking at the weekend in Sao Tome, said the quantity of oil did not justify commercial production. "
Wouldn't that statement lead one to believe that this is NOT a major find? Wouldn't that statement lead one to believe that the neighboring blocks were NOT a major find?
I can only hope that all this talk about Chevron "down playing" the amount of oil in Obo is really that. But possible new investors in ERHR may tend to actually "believe" what is in print, and not believe that Chevron would actually lie or play dirty tricks. Maybe this is the KEY reason the shareprice is where it is in the forties.
IMO, the oil must be proven up before the shareprice rises. Oh, of course resolving DOJ and finding a new CEO might also help.
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