how low will it go?, page-15

"Well that was so nice of PPP Management to inform the market nearly a month after the Premier Management ANN"

It was not so much "nice" as they were in fact forced into coming clean although I would hardly call their mealey mouth announcement "coming clean".

I sent PPP an email the other day asking why there had been no announcement regarding drilling commencing at Ca Rong Vang considering that Premier had made comment in the Interim Management Statement on 19th November that the rig was nearly on site and drilling would start soon after.

My email is a bit long to reproduce here but their reply was as follows :
"Further information will be provided as soon as we are in a position to do so.

Regards,
Jennifer Baxter
Pan Pacific Petroleum NL

Dissatisfied with that reply I contacted the ASX complaints section on 14th decemberand supplied a copy of my email to PPP and the reply.

The ASX replied on 15th December:
"Thank you for your recent communication regarding Pan Pacific Petroleum NL (PPP).
ASX Limited (ASX) acknowledges receipt of your expressions of concerns and will revert to you shortly regarding the progress of your complaint."

So it is no accident that PPP has produced the announcement today. Nor is it "nice" of them.

In fact the announcement, in my view, is a cop out. They have not really "updated" anything. We do not know how far the drilling has got or any real details at all from that announcemnt.
That is not informing the market as I believe they are required to do.
They complied with requirements with the first well. In fact PPP was the main source of information about progress on the first well on a weekly basis.

This time they are pretending to "know nothing".