11-19-2014, 09:52 PM
The SEC regulations are made to force companies to give proper asset value information. You see that even the present E/A field does not constitute asset value. This will happen after FID. For this reason I do not think that the present Raptor technical drilling data represent asset value according to SEC.
In the past IOC gave abundant drilling information to attract venture capitalists. This led to strong fluctuations in the share price and a high short count. MH clearly broke with this tradition. Furthermore, on the long run he might want to acquire neighboring leases. So, it might be wise to keep the present owners in the dark.
What I did miss in the last CC and what clearly is SEC sensible information is an update on the IPI option rights situation. We know that 3 exploration drills took place. Did the IPI stakeholders opt in? What is the situation at Wahoo? If they do a restart does this count as exploration drill 9 which would be beneficial for IOC.
In the past IOC gave abundant drilling information to attract venture capitalists. This led to strong fluctuations in the share price and a high short count. MH clearly broke with this tradition. Furthermore, on the long run he might want to acquire neighboring leases. So, it might be wise to keep the present owners in the dark.
What I did miss in the last CC and what clearly is SEC sensible information is an update on the IPI option rights situation. We know that 3 exploration drills took place. Did the IPI stakeholders opt in? What is the situation at Wahoo? If they do a restart does this count as exploration drill 9 which would be beneficial for IOC.