an unpopular dose of industry perspective, page-9

Yaq

I seem to recall a number of monthly drilling reports between the last upgrade and when the rigs were released. ALL of them mentioned well cores being drilled and the coals they encountered. Many here, you among them, would comment on the drilling reports, how they showed extensions of the coals etc etc. I'm just wondering what excatly those drill core were drilled for if NOT as part of a reserves/resource extension programme?

Then there are the pilots which, according to the STO presentation, seem to be doing quite well.

So, why no upgrade, especially when we had been lead to believe a "strong" one was imminent?

TR