I, and many other IOC Shareholders, believe that reaching the "Top of Formation" is something that IOC should announce. My viewpoint is reinforced by the definition of Material Information contained in their Insider Trading Policy; i.e., that EXPLORATION DRILLING PROGRESS is Material Information.
HOWEVER, IOC continues to withhold drilling progress reports. OSH gives us updates on drilling within E/A, but Wahoo is not in that resource.
QUOTE FROM INSIDER TRADING POLICY:
Information is deemed “material” if it could affect the market price of a security (i.e., stock, option, bond, etc.) or if a reasonable investor would attach importance to the information in deciding whether to buy, sell or hold a security. Material information can include information that something is likely to happen – or just that it might happen. Examples of some types of Company information that can be material are:
• Financial and operating performance, especially quarterly and year-end earnings and significant changes in financial performance, outlook or liquidity.
• A significant change in the Company’s debt ratings.
• Estimates or projections by the Company’s officers of future earnings or losses, especially Company projections that significantly differ from external expectations.
• Events or business operations which are likely to affect future revenues or earnings (for example, mergers and acquisitions, the acquisition or divestiture of significant assets, subsidiaries or business units, EXPLORATION DRILLING PROGRESS, discoveries of oil and gas, and the execution, or loss, of important contracts with partners or other parties).
• Plans for substantial capital investments.
• Stock splits or other recapitalizations, capital restructuring, public or private securities offerings, or changes in Company dividend policies or amounts.
• Redemptions or repurchases by the Company of its securities.
• Actual or threatened major litigation, developments in major litigation or the resolution of such litigation.
• Significant changes in senior management.
• Any other information which is likely to have a significant impact on the Company’s financial results or share price.
END QUOTE