Ann: Trading Halt, page-20

With all due respect to the posters here, I don't quite understand why the "insider trading" cops the blame for the sell down. They have held off this CR for quite some time now, and most agreed that it made sense to pull the trigger after the flow test result is known. So it doesn't require inside knowledge to anticipate this CR coming. Farm down deal is not palatable cos we wouldn't want to lose our 50% ownership of this + operatorship. Debt deal is crazy cos they have next to zero cashflow to service any debt obligations. They had outlined an appraisal programme (seismic + 2 appraisal wells) that will require a decent chunk of capital. Where is the element of shock and awe...?

I loved this forum in the past for its civility (well, mostly) and insightful discussion. Now it really has degenerated into some bipolar forum fluctuating wildly between exuberance and despair. As some wise investor once said - emotion is an investor's worst enemy.

618