An Ode to FAR....., page-32

@Oddoneout

No problems OOO, although I had to bite my tongue and not reply to your tilting at windmills comment. At least I was having a tilt instead of....no I will bite my tongue again.

I accept that the anecdotal evidence coming from the actions and lips of the JV are certainly bullish. But I have been bitten by such anecdotal evidence from insiders in the past, and I have made it a rule of mine never to trust anything insiders do or say unless I can substantiate that from my own research.

I think my reply to gridder clearly positions me in the bullish camp with respect SNE and also to my belief that the three drive mechanisms at SNE will likely result in an upgrade to contingent resources and most probably result in a DOC sooner rather than later. But until the JV starts to deliver timely data and information, instead of playing their stupid little games and keeping shareholders and the market in the dark, I have made a personal decision to watch from the sidelines because of the strong headwinds that are prevailing at the moment.

As to the doubts I have, they are raised specifically with respect to the data and information, or more precisely the lack thereof, released about the results of SNE-2. I cannot argue that the SNE-2 results are positive when they only identify an oil column with a net pay of 15m, as opposed to 30m or 36m at SNE-1. Can anyone, without referring to the anecdotal evidence gleaned from the insiders of the JV?

I thought my comments were more a discussion of the case for and against any up or downgrades at SNE based specifically on the actual data and information available, and that I was ambivalent as to which was more likely because of this lack of data and information. Having said that, I certainly suggested the actual results warranted a downgrade, but this was to counter a comment that the results at SNE-2 all but confirmed the 1c and MEFS.

Anyway, if I was specifically arguing/suggesting a downgrade, then I think I have now clarified my position. Even though my position is in the bullish camp, I still have doubts about the results. I even have doubts about my own diagnosis of the results at SNE-2, but that is the diagnosis I have arrived at, based upon the results released. Until all the results from SNE-2 are released I don’t know whether I am right or wrong.

In the meantime I am happy to watch from the sidelines.


Cheers