Their announcements are full of weasel words - 'up to' and so on.
What was important was what they didnt say ... thickness of net pay, estimated size of contour at that thickness, P90/P50/P10 analysis of the Rookwood South prospect.
They told the market what it wanted to hear, and they got a capital raising away when the market was enthusiastic about them.
But I dont believe they ever said anything untrue. They said things that were unlikely, but you had to know what you were doing to spot the holes in the story.
I dont think we could make anything stick at ASIC.
But I dont think anyone who got burned and held the shares anyway should be voting for the incumbents at the next AGM.
Ian Whitchurch
OEX Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
