Last night, I stated we would have resolution on the well and it would start flowing in a few days and worse case next week. I might not be a full blown O&G guy and I'm surely not Nostradamus, but I know enough that we will have results any day. JB was hoping to hold out just a few more days, but he was outed by someone and the panic started. Watched many of stocks get battered unfairly and MMR fits this scenario. Nothing has changed about this field, but validation and we will get it shortly. Same story, same situation and without all the noise we would be hanging around $12 waiting for the results. JMO
"Nothing has changed about this field, but validation and we will get it shortly. Same story, same situation and without all the noise we would be hanging around $12 waiting for the results."
Sorry - a lot has changed - and not for the better. IMO there is a much increased risk that DJ1 either will not flow at all or will flow at reduced rates - hence not generating at least some of the cash we need. As for the noise - go back to the last Schiller talk - several weeks later with no news was in itself a scream of trouble. What was a high risk play is now a much higher risk play.
Then there is ole JB saying he will be the first to tell us - yeah - only if it is all sun and roses. If not - we sheeple are allowed to wonder in the wilderness while those in the know make the dough.
DJ1 has ALWAYS been a Proof Of Concept, period. Flow is flow is flow. More flow is better but still flow is flow.
The Solvent will work or is working or is about to work and then we are off to DJ2 for the cash!
I could not agree more, we were warned by JS to expect some tweaking at his last presentation. I think JB and gang are surprised by the market reaction, and simply felt they needed to respond, even if not fully prepared. In their mind, the game is not over!
I had the same perception themid, that JB and company were caught offguard by the market's reaction to yesterday's DJ 1 update. General question for the long time followers, Are JB and JS providing too much info to the normal Jack and Jill investor with minimal to none O&G background chasing a fast payout? It seems like the shareholders over-react to any and everything, positive or negative.
I don't think I could ever imagine the number of ways some information/data is misinterpreted at times. I guess that's why I'm not in IR ....