Ann: Latest Equity Research Coverage , page-32

Mr BRM, I am doing research into the how the market works and the ways information or mis-information is propagated and to whom.

In the background of most oilfield operations are decicated groups of professionals working hard to evaluate and explain the results of seismic and drilling campaigns. This of course is only half the story, as the managers and spruikers take over to make to story more patalable to the investor community and often with considerable spin, and selective release of technical information, often supressing or ignoring the downsides.

The rules have changed over the years and competent persons statements have become more common.

I am fascinated how fora such as this can be used to ramp up, add credibility etc to some very flimsy stories, yet no-one seems to be worried that some claims are far from substatiated, and when such claims are questioned the messenger is hung out to dry.

Hot Copper and other fora are really just marketing tools. Like the sponsored broker "research". There are not many earth scientists working for brokers any more.

I hold a quite a number of oil co shares in a dozen or so companies, who do provide substantiated releases.

OBL is just one of the cases I am studying. And its forum seems to have the most lively proponents.

Takes me back to the days when I used to watch the punters in he gallery of the ASX swearing as the chalkies changed the prices