Balance, all and well
but you can also look at it in another way.
A quote from Sfreed from May 26:
Finding oil at any time in any phase was a priority. It had to be. They didn't
find any so its downplayed to not being a priority.
Sinopec isn't letting them say anything, but you can't tell me that if anything
of value was found news of it would leak out somehow. But since they probably
didn't find anything they can use Sinopec as the bad guy.
It also seems that they spent more time at the AGM on the restructuring than
anything else. Why? If that is the biggest thing going on then we really do
have problems.
Remember, Dan said on May 12:
"I can tell you what Dan Gralla and others told me. Announcing what was not discovered is not a common practice and we don’t anticipate doing it. I’ve already explained why the Company released information that no oil was discovered – because Dan Gralla said it during the Q&A following the Annual Shareholder’s Meeting. The Company has already provided all the information about drilling outcomes that it is authorized to release – and it has released more information about drilling that any other organization. "
Gralla: "No oil"
SNP: "Oil found"
One of those two is/was(?) making a false statement.
Now, I know it's an open door, let's look at the shareprice...
If commercial oil was found, imo the share price should have been way higher than it is right now. But according to Gralla (and others!) no oil at all was found.
Maybe later they will find oil, but I highly doubt they found it during this drilling campaign.
So i go with SPP's stance that this is a Gas play, with some additional condensates, hence the long analysis to 'commercial' quantities, thanks to TOTAL coming into the picture.
So "HUGE" is not the word that I think of with all what we 'know' right now.
Imo, that is the reason that SEO, via his puppet David, suddenly talked about $5,- and also denied that there was talk about $10,- earlier, while it is on tape...
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