At the request of the administrator Richard Brien, I emailed a lot of information about the drilling and the responses back to me from the company when I requested details of the geological work and who interpreted it, and their formal qualifications. He was also interested in the huge spike in trading just prior to the CR in Aug 2018. Also, he told me that several others had contacted him about other irregularities and concerns.
One comment he made about the concerns on the potentially inadequately qualified person doing a job that required a properly qualified person, i.e. the crucial interpretation of the seismic data, was "that is what director liability insurance is in place for".
anyway... lets's see what he does. I hope that he can clear up the details of this Geologist once and for all!
Also, I had a longish conversation with Russ Porter in the past week. He claimed to have 'No involvement in the current going's on with Freedom' and had 'no idea where things were at'. The Administrator subsequently told me 2 days later that Porter is 'up to his eyeballs' in the sale of the assets under the direction of Wells Fargo. Mr Brien also told me that it looks like somebody could well get what is now a pretty good producing asset, for a bargain basement price. Apparently it seems to have settled into a good producer now. Pity they don't disclose anything to us now.
I just wonder who might be the eventual buyer - somebody arms length from people that we are very familiar with...... perhaps?????
I smell a rat right now!
FDM Price at posting:
1.1¢ Sentiment: None Disclosure: Held
