My understanding is that many O&G companies do not provide an update to market until the drilling itself is called (either TD or canned for technical reasons). Issues like sidetracks can be argued as common events in drilling and not market sensitive. (appreciate thats open to interpretation).
Can it be argued that Melbana had previously updated the market on every single small event during the last exploration drill and now they are behaving more like a larger O&G company regarding updates? in my opinion yes and I also feel a bit disappointed because who doesn't want to know the minute goings on the current drill.
I would hope that given the conjecture of us retail punters over the last 24 hours that the company will make a decision and provide a simple drilling update shortly. Talk of insider trading / selloffs etc is a bit of bumkin in my opinion.
Appreciate your help in these matters awfawcett, sometimes going out of your way to help other shareholders is a thankless job.
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