Waiting for an opportunity to sell (before the flow test). And I really don’t like the way SM is selling this as a success story to investors and shareholders when he’s left out some of the most critical pieces of information like reservoir quality. He’s completely blind-siding the less experienced oil and gas investors and it’s borderline criminal. Most of you don’t even realise what you’re entitled to hear from the company. If all we have is a sniff of gas in some thin ratty sands then this will be worthless. Just look at how SM hyped up the potential for significant net pay. We went from over 1,000m of hydrocarbon shows at MK-1 to over 200m of gross hydrocarbon bearing reservoir to 13m of net pay in the UA. If that wasn’t over promising, under delivering and misleading then I don’t know what is. And now the same thing will be repeated with the flow test. He’s already talking to shareholders about this being comparable to the Perth Basin which has seen flow rates of up to 90mmscf/d. What do you think that does for shareholder’s expectations? And what do you think is going to happen to the shareprice when we struggle to get 1 or 2mmscf/d or no flow at all? All I can say is don’t drink the cool aid. SM is just a salesman. And not a good one.
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Price($) | Vol. | No. |
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