News Focus
News Focus
icon url

the cork

04/19/09 7:14 PM

#88947 RE: IDRILL4GASOIL #88941

I think an understanding of Actual Notice vs Constructive Notice is the heart of the issue, id.

If information is contained within a publicly released document, it is considered Constructive Notice to the world.

The information is there, but it is incumbent on affected parties to be diligent in pursuit of information that affects them.

This is comparable to the Public Notices section seen in the Newspaper of Record for a particular region. People may or may not read them, but Constructive Notice has been served.

Actual Notice only takes place when the affected party reads that Public Notice, or receives it in the mail or any other method of receipt. Constructive Notice has been served weather the parties read it or not.

It is not incumbent on the issuing entity to keep anybody "up to speed," although it does seem the smart thing to do since as you correctly pointed out, many investors do NOT read the filings.

PR's cost money, so it may be an issue of the relative value of re-stating information that has already been released. Best regards idrill.

GLTA !!