Dear Terry and BoD,
Notwithstanding all of the other emails you undoubtedly would have received to date following your ill worded and poor communication to the market yesterday AEST regarding the current status of the wells I thought it important to add my voice to the chorus.
For a company that is owned by your shareholders our best interests are being ill served by inconsistent, confusing and contradictory statements. Did you have any other expectation when the send button was pressed yesterday on this announcement that the share price would not be hammered? Down to sub 6c for a two year low.
Why was this announcement allowed to be written in the language it was is beyond me. There seems to be hidden messages within the pessimistic wording that could have lent encouragement to the market but instead these were ignored and the style and content was allowed out without more careful consideration. Comments were made on forums yesterday that the company commented the announcement was written by geologists – for geologists I presume? This is the wrong way to communicate, announcements need to follow almost a layman’s style laying out what has been achieved, results to date and forward action. Easy to read, interpret and act upon.
SOAII does not sound to all that pessimistic and wording could have been used to substantially increase the positiveness of this well. Why did you not publish flow rates and temper this with the current status of the well in plain English so that is was clear this is preliminary?
Also, on AUSII again flow rates of the first eight days and the second eight days would have shown an improvement. As some of our top researchers on HotCopper have demonstrated, this again is a positive and potentially yields a good result. But this was ignored, why?
On Gretel it seems according to the wording that this has been written off – there is little room within the announcement for an uniformed market to any other conclusion. However, when initial results for Defender were released, again no oil cut with the first 25% of frac fluid. Why was this not pointed out? A little bit of optimism would have been more favorable.
The only conclusion I come to is that I feel let down by you and the management in not handling the communication in a more professional manner. Immediate action is required to ensure all future communications are consistent, the points I have highlighted above clearly shows this announcement could have been so much better.
I assume I will not get a reply but I hope that this is considered and that you and the board cannot be happy that you entire shareholder base is questioning the current management's suitability to take Samson to mid-tier producer. This fact you cannot dispute.
Thank you for your consideration.
Lets hope we get these guys to take their collective heads out of the Sandy's.
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