Ann: Hickory-1 TD Reached - Additional Reservoir Identified, page-135

Thanks, appreciate the smart comment. Timeline and chart doesn’t misrepresent the facts of what happened here!

Recap just in case anyone is still struggling to understand the root cause of 88’SP collapse. Not that hard to follow.

1. BOP should have been completed by Fri 17th/Sat 18th March imo. Forget company safety factor timeframes. This is a beast of a drill rig, easily done this if no issues encountered.

2. Mon 20th, still no BOP RNS. Market now getting a little more concerned as April fast approaching. SP started its fall.

3. Finally BOP RNS 23rd, yay everyone excited until we all read what was said by 88 imo. (Note 88 had some minor issues, so BOP was actually delayed, DYOR). Unbelievable that this RNS contained 3 critically badly worded comments. Now market deeply concerned, as not sure if we will have enough time left to reach TD, KUP or even finish and no more updates until TD was said by 88. Not the smartest RNS I have ever read imo probably one of the worst in 25+ yrs  and market agrees. It’s in black and white. SP went to 0.009c. Still there.

Good luck trying to spin this guys in the companies favour. 2 weeks later, great oil shows, multiple zones, SP still at 0.009- 0.01c all due to that woeful RNS imo.  Also OPEC a few days ago said going to restrict oil production. Oil price immediately increased. But we keep falling.

Please someone show me how I and the market have got it all wrong. Lol.