On Tight hole policy / status , and notwithstanding insaf’s...

On Tight hole policy / status , and notwithstanding insaf’s assurance that in any event somehow the market will know

As FAR actually use the term “tight hole policy” in their reports, I’ve been googling around to try and establish exactly what “tight hole” is usually taken to mean.

As is common with the english language, and as also obliquely alluded to in insaf's post, the meaning may be somewhat context dependent, but I have come up with the following differentiation in respect of its use in the oil industry:

Tight hole policy (as referred to by FAR) means they will only release information on the drilling program to the extent required for compliance with ASX Chapter 05 guidelines.

Tight hole status means that a waiver has been obtained from the normal exchange reporting rules and we will not be releasing any information on the drilling program at all until required by the conditions of the waiver – eg six months after completion. This waiver seems to be available for example in some US states in the interests of enabling commercial confidentiality.

pj