insider trader-stock pick of the week - 06feb, page-34

Nihilism,
The company's R / P has remained in the ~500 years range for a year while they've drilled the fields as hard as they can.. Can you identify a single example globally where this is the case where an operator is actively developing the fields? It just doesn't happen. A signal that something isn't right...
I personally don't believe that spending shareholders' money on the het limestone to generate zero commercial hydrocarbons was a valuable exercise whatsoever. I'd call that value destruction. As per my previous posts, why would a company seeking to maximise NPV utilise their scarce capital, equipment and personnel to explore for more oil when it has hundreds of years worth of proved reserves to exploit? It makes no sense whatsoever unless there is a problem with those reserves and they are seeking to replace them with exploration.
Short.