re: Is CEO Ted a Saviour or a Shyster? to jsw Hi js,Did HDR make...

re: Is CEO Ted a Saviour or a Shyster? to jsw Hi js,

Did HDR make an honest mistake using the "plugged and abandoned" term last year? No. It was not a mistake at all. This is a standard oil industry phrase and they accurately described the status of the well. The only mistake was on the part of naive easily panicked traders.

You also say "I dont have recollection of these hints" about HDRs frustration with the limitations on the release of information. This is an email I received last week from HDR:

"Thanks for your message and your kind words of support.

It's necessary to understand that this is a very heavy-weight joint venture which is extremely jealous with its information. Agip, for example, does not release any information to anyone during a drilling program like this (and they don't want us to say anything either).

Woodside would not release any reserves estimates until after months of evaluation. In a sense this is understandable. The data from one well on a large struture like this is not enough to go firm on a reserves estimate.

It's been reported in the press that Banda can contain 100 million barrels of oil recoverable and up to 2 TCF of gas. Based on our preliminary assessment of the results, we wouldn't disagree with those figures at this stage."