12-12-2014, 05:24 AM
Keep some perspective. I realize you are disappointed, but I don't think anything I've said is irrational or untrue and I certainly don't see how discovering new resources should one to lead to criticism of the company
There were catalysts! Beforehand, nobody knew what they would find at the new wells, or how the investing public would react to them.
As it turns out, we did find new resources, but as of yet, these appear insufficiently spectacular to move the needle, leading to a relief for shorts.
These discoveries might become more spectacular as better locations are drilled, and more relevant as we near monetization outlets, but for now, they haven't moved the needle.
Yet it's undoubtedly true that discovering new resources adds value to the company. That insufficient amounts of investors are willing to pay up for that today is probably simply a result of time availability. And yes, this is a ex-post rationalization on my part, ex-ante I expected the market to move a little more favourably, I readily admit that. But such is the game of investing. You deal with reality as it unfolds.
There were catalysts! Beforehand, nobody knew what they would find at the new wells, or how the investing public would react to them.
As it turns out, we did find new resources, but as of yet, these appear insufficiently spectacular to move the needle, leading to a relief for shorts.
These discoveries might become more spectacular as better locations are drilled, and more relevant as we near monetization outlets, but for now, they haven't moved the needle.
Yet it's undoubtedly true that discovering new resources adds value to the company. That insufficient amounts of investors are willing to pay up for that today is probably simply a result of time availability. And yes, this is a ex-post rationalization on my part, ex-ante I expected the market to move a little more favourably, I readily admit that. But such is the game of investing. You deal with reality as it unfolds.