I have limited knowledge of the oil and gas industry but being in finance I know a lot more about reporting requirements.
Whilst I agree to some extent that it would be nice if these announcements were all 'dumbed down' so that I as a layman in this industry could understand them better I think for those of us who are it is more an obligation on our part to ensure we understand the issues better in order to make an informed investment decision. As such I appreciate the insights of those who have been able to give me a better understanding of the issues.
I agree that the company needed to make an announcement early this week to avoid concerns. The fact that no further indications have been given about flow rates in this announcement in my opinion has indicated that they have not been able to reliably give any indications of these numbers because of the delay. It would be very poor form to start an announcement saying 'the company is pleased to announce' though if it was bad news.
I would be interested to know how many options fit in a shed. I thought I had a shed load too but now with a delay to some of the pivotal news and a relatively meagre bonus to be received this week I am wondering if maybe I needed something bigger.
OEX Price at posting:
18.2¢ Sentiment: Buy Disclosure: Held
