sp verses sentiment, page-15

we will have to differ, $7K in trade increasing the market cap by 25% is volatile imho, and the volumes are minuscule. if you can prove to me that each $7k will increase the market cap by 25% every day then i will believe it, but this adi share is hardly ticking over at all, which is replicated by all jvps with the exception of one in the UK..
i have seen this pattern in adi at the low points over the years, low volumes and steep declines and increases in price, what i call volatility..


as for lacklustre drilling results, all drilling operations are extremely high risk high reward projects. and what you view as lacklustre is what AUT says can make the acreages a salable asset..

My views on the 2 wells thus far drilled in our acreages are as follows, imho kennedy is not in the chalks but in the "shaley" regions as adi called it, its not open hole at all, has been cased and cemented and only a tiny percentage of the well has been exposed to the formation.

as for the kowalik well. i look at the photos of how that well behaved during drilling and clean up, and although the jvp are offering no explanation as to why is is flowing like it is, no choke sizes nor any pressures given (even conocophillips have allowed that to be put out on their wells) i am of the belief something must have happened to this well. i wouldnt blame the management at adi like you have, as i cannot see how they could have caused it, but i feel some factor in the drilling process has created the situation inside kowalik. it makes no sense, none of the other wells besides baker 1 have behaved anything like kowalik did in the last stages, yet after the drill string separated its gone downhill big time..

do you conclude the formation is damaged? who knows? certainly smells that way to me.. can it be brought back, obviously there are options being openly discussed. says to me it was not adi's managements fault at all. i would say its part and parcel of what happens in drilling, its one big learning curve.

with respect to kennedy 1h, if you think the 2 frac attempts are due to adi's management fault, but then then again, so be it, your entitled to your opinion.. but i think all decisions made are done with the consensus of all jvp partners. and i thought the idea on kennedy was to wait until some further point in time when kunde 3 is fracced to see if a fracc process can be devised for that formation. i assume this as that was why kennedy was delayed initially and conoco have scheduled the frac of kunde 3 in dec09

lastly with respect to "over brought" i cant understand what that means, so i leave that with you.. i think adi was trading at .34 due to sentiment and i think it trades today where it is due to sentiment.. and on very low volumes

best of luck..