Hate to have one "basher" showing signs of agreement with another alleged "basher", but since the SP has already spoken loud and clear following the latest News Release, I'm afraid agreement with your assessment can't now be labeled as destructive and the cause of the price dropping (again).
This week's PR was typical, with zero commitment of confirmed results. "Testing INDICATES that this well MAY BE CAPAPLE OF producing crude oil at the rate of 250 BOPD." Then the authors quickly direct attention to the original 1993 discovery by Conoco in the same AREA, with production numbers of some wells between 1,000 and 2,500 BOPD.
In other words, if this well that EDEX has purchased a 6% interest in produces absolutely nothing, then "Management HAS STATED NOTHING IN WRITING THAT IS FALSE OR MISLEADING."
Another gem: "The company has AGREED to participate in the drilling of 13 wells in Stark County, with a working interest of 33%." Again, zero commitment or hint of evidence of HOW it will, or could actually accomplish participating in those wells.