Ann: Eastern Star Gas Exceeds 2009 Reserves Targe, page-25

re: Ann: Eastern Star Gas Exceeds 2009 Reserv... Mattvan

While it is true that ESG closed down today, it only did so because it takes time for all news to be factored into a stock by the MAJORITY of market participants. Eugene Fama's efficient market theory doesn't work in practice because it assumes ALL market participants are immediately aware of ALL news announcements simulaneously and therefore ALL participants can simultaneously factor in the news. This is simply not possible. ESG closed lower because it went out in sympathy with the rest of the market. Wait until the latest news filters through the market - it should be reflected in the ESG share price by the end of the week.