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1,149 Posts.
20
01/03/10
14:59
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I just wish journo's and others reporting on stocks get their facts right.
For example todays report by proactiveinvestors.com.au on various 'Emerging developers' here, has a paragraph about MEO.
In it they say:
'MEO, through its wholly owned subsidiaries, TSP Arafura Petroleum Pty Ltd and Oz-Exoil Pty Ltd, holds a 90% interest in the NT/P68 Joint Venture.'
This should be 100% since Petrofrac took their ball and went home.
They also say:
'North West Shelf Exploration Pty Ltd, holds a 70% interest in WA-360-P, a 35% interest in WA-361-P and 60-70% interest in WA-359-P.'
Wrong again - they have not renewed their interest in WA-359-P as stated in their two most recent announcements.
I have also noticed that some brokers publishing Xstrata's assets are still showing >10% interest in MEO.
And there was the beauty in the Scandinavian Oil mag that showed a picture of Evan's Shoal when reporting on MEO's interest in WA-360-P.
It is difficult enough for prospective investors to get up to date information without being misled by the media.
I think HC researchers could teach them a thing or two.
The lesson is - always DYOR!
#:>))
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