"I'm curious why anybody thinks we received good news. We are drilling to find commercially viable...and recoverable...gas/oil. Good news would have been..."we accomplished that goal". We didn't hear that. Neutral news might have been..."We think we found something recoverable but there are some problems. We have a definitive plan that will resolve those, but it will take "x" more money and "y" more time". That's not what we got either.
To spin the actual news we got into "this shows we have a string of pearls" is mind boggling to me. If Hession knew he could get to the hydrocarbons at Wahoo I think he would have said so. He did not. The market hates the news and there are no new buyers. Total and Exon and Shell presumably now know what's going on...but there's no increase in market buying. The World does not see thus as proof of a recoverable string of pearls.
GetIt can "speculate" that news on the other wells will only be "days or weeks away" but he really has no clue. Of course he might be right, but a reasonable "guess" (like his) could also lead us to think that these two overdue wells may be overdue because of similar "recoverability issues" as were encountered at Wahoo.
I'm hanging in for now but the list of boxes that needs to be checked seems to be perpetually changing. "
Amen, CAC !!!
The market has also voted, predictably: uncertainty is met with selling.
On June 23, I posited that "No News is NOT Good News". No news prior to agm and no substantive news post agm.
-15% later, .................................. Easy to call that one.
I fear that Hession was rushed into drilling these three wells so as to "save " the licenses.
So much hype, too much hope, so little reward.
Oh well. I'm 100% sure Hession will have positive news on August cc.
The great communicator will surely have some good news, I hope.