let's analyse this trading halt, page-26

I think we need to look at this TH and stick to the facts.

Firstly, the TH heading is quite clear as to why - drilling RESULTS! That would rule out major problems with the drilling itself as has been previously mentioned by monark on this thread the heading would then read "drilling activities" not "drilling results" if that were the case.

Secondly, since the last announcement regarding the progress of Reese #2 (prior to reaching the first zone) although the sp has gone south (in line with other energy stocks) trading volume has been low which as far as I am concerned rules out insider trading.

And finally, I think most of us agree that TD had not been reached prior to the TH as the drilling team has been proceeding with great care and perhaps 1 or 2 zones having been reached out of the 5 target zones identified. If this is the case I would think it highly unlikely that they would announce a duster before testing all 5 zones.

My conclusion for what it is worth in regards to the TH is that I think they have encountered flow rates substaintially greater than they predicted in the first 1 or 2 zones and are obliged to verify how substaintial the find is before releasing the information to the market.

Of course this is pure speculation on my part and based on the very limited amount of information available.