Can anyone help reconcile these statements?:
ESG THEN: - "The Outstanding performance of the Bibblewindi pilots, along with the 2010 corehole and seismic programmes, will result in strong reserve additions."
ESG NOW: "Insufficient new exploration and production data were gathered during the course of the year to warrant a review."
How can a reserves upgrade be both "strong" and "insufficient ... to warrant a review"?
Surely one of them is misleading? I wonder which, because they can't both be correct. 'Strong' but 'Insufficient' ... True, yet false. Strong, yet Weak. Straight-forward, yet Slippery.
Whatever ends up happening, the communication is just too slippery. I share everyone's annoyance with it, and the apparent lack of reserves progress.
Yaq
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