update now out, page-72

lot of discussion ...is there? or isn't there?

...spent a lot of time today reading through the last few years announcements.

Defender Updates

5/09 "currently running an extensive combination of geophysical logging tools down the hole to analyse rock fluid properties"

23/09 "resistivity for 100ohms" "very brittle carbonate sections appear to be oil saturated'

it is now 24/11 nearly 3 months on....so if you had a non-commercial proposition would you spend that amount of time analysing ...fraccing......would you talk about "production"...or would you report any loss it straight away....take the hit, put it behind you as quickly as possible and move on...or would draw it out for 3 months.. ......after all ….the world is watching...IMO ….if Defender was not viable they would not have prolonged the egg on the face scenario.

…..If I was going to eat humble pie …It would get it over and done with in the shortest time possible...definitely no point in drawing out for months..decimate the SP…..so that it remains etched in every ones memory so whatever I said in the future was taken with a grain of salt. It would be difficult to be trusted again.

If you were HAL would you carry and fund for three months? Or would you cut your losses and head for the exit?

...would you buy 956 acres more on the 29/08???

….24/10 Comment on Chesapeake selling their leases…….why would Terry announce “evaluate land holdings”.

Now if you were “evaluating land holdings’ that were going to auction in a few weeks’ time…..what would you do? “shout from the roof tops ……hey …..we have so much oil…. And we are going to pay treble the price we sold it for"…or would you play it cool to get the best deal ….or would you try this approach ……”geez….bad luck…we have analysed and analysed and we fracced the frac …but golly gosh …we don’t think we found anything...but hey lets just wait another few weeks just to make sure"

Now not for one moment am I suggesting that Terry is withholding the information….he may just be going slow because it is in our interests and he holds the ace card

I bought in two years ago and one of reasons I have stayed is because of this team…. any organisation is only as good as the management that steers it . After this time you start to be able to read or get a feel for who you are backing.

Terry has always been transparent, his integrity has been without question. IMO he works to deliver shareholder value. Early - mid last year he reported some minor hic-up with a drill and the obvious reaction was a dump. A few posts on here commented that the information was so minor that normally it wouldn’t be reported. This doesn’t strike me like a man who doesn’t call it as it is when he finds that the fat lady has sung her song. A leopard doesn’t change his spots.

…don’t be fooled …guided by a 3 –D and three months on ….Terry and Hal know exactly what is there down there…..they are smart enough to know if there is oil or not and if it is worthwhile...after all they have been in the business for over 30 years

…..had a look at the Yahoo boards....all gloom and doom …..end of the world for SSN!.....etc etc…. definitely posters on there whose only aim is to rubbish the company and instill fear...talk about the terror zone!...difficult to find quality posts, and makes me really appreciate how lucky we are with the posts on HC. Got out of there as quickly as possible and won’t be visiting again in a hurry

……it seems that our US friends might just be backing the man as well…the expected enormous dump didn’t really eventuate

PS.....

…got a call from gran at Cash Converters….looks like she will be bedded down for a little longer…but she tells me “she’ll do all it takes”

…the most frustrating thing about all of this is to see the dumps and have absolutely no more dosh to buy any more….

...all IMHO