Hi Timber,I'd like to mirror the appreciation posted by others,...

Hi Timber,

I'd like to mirror the appreciation posted by others, and say thank you for your efforts. I hold you in no way responsible for my investment decisions.

I realise it is all a part of the cycle unfortunately to vent against management when their best endeavours don't work out. Once again I accept responsibility for my own failures.

I would like to express my disappointment in the companies reporting of the drilling throughout. I don't feel it is good enough to bang on about JV restictions......I feel our regulators need to impose strict, clear & regular reporting requirements on resource companies. Clearly what is in place atm is inadequate. An announcement was made upon spudding Cua Lo on 12.8.13. We had an update on 26.8.13, 24.9.13, 23.10.13, 12.11.13, & discovery ann 6.12.13 & then Fridays announcement stripping the MC by 75%. Between spudding & discovery we had 4 announcements in 4 months. Due to 4 typhoons & mechanical issues often there was little to report, but if no progress was being made I feel we had a right to know on an ongoing basis. Companies who respect there shareholders report weekly when drilling, rain hail or shine. 1 update a month starved shareholders & the market of information. When announcements were made they said little. It was more about what wasn't said. Shareholders were left to join dots as best they could. For the company to give callers information not otherwise released to the market is REPREHENSIBLE & DISGRACEFUL, imo.

Timber7 "Per the points detailed in Ya's post it is obvious that if a process step is not completed accurately then it opens us a risk"

This from NEN 6.12.13

"The Joint Venture has unanimously agreed to
production test the well, and the parameters of a
testing program will be finalised after analysis of
the new wireline log data. The program will be
designed to confirm that gas can flow to surface at
commercial rates, and provide critical data
regarding reservoir deliverability and gas
composition; information that is key to determining
commerciality........"

“The forthcoming test program is the
culmination of a four-year effort to realise value
from Block 105. We are of course excited by the
discovery of a potentially significant gas resource
at Cua Lo, and eagerly anticipate the results of
production testing.”

Excitement & eagerly anticipate. There was no mention that data was incomplete & that they were 'winging it'. No follow up announcement prior to Fridays bomb. Risks were mounting as you say, but we were not informed.

From Timber7,
"What has happened is that we didn't have a complete data picture during logging and so the DST was done to both resolve the ambiguities but also confirm the thinking. The 'thinking' was formulated from the data that they did have combined with geological information and drilling experience of the operator (ENI)."

Cheers & once again thank you.