Oil industry, real people, and like me they are amazed that RIA has not made a detailed statment on the results to date.
For example ADX got caught last yar delaying announcments and had to issue this statement...
"ADX : Sidi Dhaher-1 Well Dear Shareholders It has come to the attention of the Company that there has been an unsubstantiated and erroneous report issued recently, containing speculation and speculative analyses about results of the Sidi Dhaher-1 exploration well located onshore Tunisia. ADX Energy believes that this is definitely not a credible way to report on a Company’s drilling results."
An example of how to keep the market updated is the MMR well New Seaclem-1 where they even went into a trading halt whilst they evaluated the data.
There are not many small companies involved in high profile offshore exploration in Australia. Maybe RIA is floowing TAP in their woeful treatment of the shareholders with the lack of definitive results for Tallaganda-1. TAP have taken over a month to figure out what they have got according to yesterdays AGM address !!!!
As I said earlier, lack of skilled people (or mayb just good old fashioned incompetance) seeems to be at the core of some of these issues, but it is a pretty lame excuse, especially when you see the pay rates for the CEO's. Maybe if they paid the CEO less they could afford better quality tecnical staff.
RIA Price at posting:
30.0¢ Sentiment: Hold Disclosure: Held
