Please understand my post and the logic. Yes, I do read between the lines but I accuse mgmt of EPL of nothing.
Humans are humans and everyone is greedy.
What I was referring to is that EVERY work hand on that rig saw every inch of drill bit. And every hand probably had a cell phone. And every hand knew what EPL was after. They were after a massive natural gas play. If it hit, the stock could have exploded. And I betcha $100 that rig hands stayed in contact with friends and family....and word spreads fast.
The second thing that caught my eye was the way EPL PHRASED the press release. They STATED that the denali well had ALREADY been plugged and abandoned. They did NOT say they <<<were>>> going to plug and abandon it. So the plugging (and failure) happened sometime in the past. Third thing I noticed was that EPL took a large whoosh down in the last couple weeks to $21 or below. Coincidence? I think not.
Sorry to be jaded, but just a fact. The well hit the pay dirt area probably a couple or few weeks ago. Every drill hand knew the result- bust. EPL trades way down. No announcement. Then we GET an announcement that they well HAS ALREADY BEEN PLUGGED and ABANDONED? Sorry, plain fact. A lot of others knew long before we did that denali was a dry hole!