05-20-2014, 01:22 AM
'Getitrt2' pid='43534' datel Wrote:
'johnwgrant' pid='43532' datel Wrote:"Mgt also discussed the frontier nature of exploration and typical success rates (10%)" This bothered me about the conference call. Why bring this up now? Setting expectations? Probably? Warning us that Wahoo is a dry hole? Don't know! It was Hession that set the expectations for results in 60 days or so. Where are they? This is a dual-edged 'delay'. If it was known to be a dry hole, there is no need to test or delay in pulling the plug. If the results are mixed or uncertain, then the full range of tests need to be completed (and would take some time). Wish I know which of the two 'spins' to put on the 'delay'... Stock price says that it is a dry hole. We will see if the stock price is really a good forecaster of actual results... Signed, - Impatient InvestorThe impression I got about the delays is that they have been caused mostly by the seal rock above the formations being so "sticky" and difficult to get through.
Getit- Kinda' sounds like a "sticky" way to avoid what they don't want to tell us.