rumours due to start, page-2

re: rumours due to start ... here's some ... Hi isa,

If you take a look at the OSH thread on the Aussie
Oilers site, you will see that the rumours started last
week and a company rep flatly denied withholding
relevant information from investors ... so how come,
NOW (a week later) we see a 24 cent drop in one day?

There's been no revelations about their accounting,
yet ... but their failure to disclose relevant details has
been proven, without doubt.

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FULL disclosure of the FACTS should be given, on a daily
basis, as any well is sunk ... that does NOT happen now,
as oil companies are only OBLIGED to report to the
ASX on a weekly basis.

In this day and age of modern communications it
should be possible to transmit a summary of the IADC
and geo reports to the ASX on a DAILY basis,
throughout the course of the well.

This is done by the operator on a daily basis anyway,
so why not keep traders FULLY informed, with ALL
the facts ... not just those, that will keep the company
in a good light with the marketplace.

Excuses of commercial interest do not wash any more,
since the surrounding leases in Australia are put up for
tender well ahead of any spud date.

Legislation is required to get ALL oil companies to lift
their game and provide DAILY drilling reports, in a
standard format, that will provide a minimum standard
of reporting.

ALL relevant information will be provided by the
operator ALONE ... and any minority partners
should be silenced until P&A or completion of
testing in the well ... if the operator is not an ASX
-listed company, then the Aussie company with the
highest stake in the well, should provide the reports
to the ASX, DAILY .....

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Such improved reporting, will level the playing field
for all players and will help to head off the rumours,
at the source !~!

hot trades

yogi