rodney foster phone call, page-36

The operators (NEG) have maybe muzzled PRE for reasons of their own. Commonly, it is so they can sew up leases over nearby acreage before competitors get it, and that process takes a little time. At the same time PRE must comply with ASX listing rules and announce any significant news so the mkt is fully informed. I suspect some of these situations are resolved with nods and winks, example: management says to NEG "Ok, we know you have a leasing situation to deal with but just give us a hint without any details, so we don't have any hard information. That way we're not in breach of listing rules. But you (NEG) and your your mates have to agree that you won't buy up our shares on the quiet, coz that could put us in a difficult situation". NEG play their cards v close to their chest like lots of USA O&G operators. You would never be able to prove anything.