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Delux73. Thank you for your response on what should be a most important development for shareholders.
But, to help me respond to your post, would you please provide what you believe is relevant on Page 36. Unfortunately, I can't translate it.
I accept your comment regarding the S.P. as it is clearly impossible to dispute, but, with all the hype that was building up with the potential of A#5, which "could" have had an initial flow of over 1,000BOD, added to what people were "hoping" that A#4 would then be tweaked up to its optimum of 600 BOD when A#5 was producing commercially (many (including me) thought that they were being extremely conservative and protective of A#4 because it was their only income producer) the news of a flow of 105 BOD would have been extremely underwhelming to an expectant market that was already going down the gurgler. Seriously, 105 BOD!!!
Without any clarification, all that would have done was to confirm that A#5 was just as bad as A#4. This would not have stopped the slide, it would have precipitated a mass exodus!!!
And, with the POO obviously going nowhere but down, those numbers simply did not stack up, nor justify committing any more cash, probably, into the entire Atzam field, when 105-120 BOD was going to be their best result from each well. Remember that the wells had to be shared,60%-40%, neither of whom would have sat back and smoked cigars on those numbers.
Atzam and Tortugas were spruiked in all the documentation, from LAR, from CTR, from The Next Oil Strike etc, that sucked most people into CTR, to be a potential producer of over 3,000BOD yet they both had extremely "doubtful" histories!!
Atzam and Tortugas will probably do nothing but provide employment for people who have no other source of income or employment in a very poor country economically. Guatemala is for the locals I'm afraid, legally or not, it's a world away from our standards.
LAR itself is no big deal anyway and the numbers from Atzam and Tortugas would be more significant to them than an Australian ASX listed company. Those numbers are piddling, nearly laughable. Sadly, there is no BIG OIL story in Atzam and Tortugas for an Australian company.
But, who knows, they might give us all a huge surprise "when" they have their next announcement which I believe is "imminent."
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