SA Author removed article posted in part before by RLP
The SA authorof the article RLP posted part of has tried to correct his mistake....and posted this at SA:
Apr 9, 2013 8:33 PM
"I have retired as an analyst, and thank SA for prompt action in removing an article that contained a material error. I sent SA the following in response to a note they received from Continental Resources:
I unreservedly and profoundly apologize for having misunderstood the notation pertaining to CLR's audited 1P oil reserves. It was a terrible mistake on my part. I accept sole responsibility for publishing an article about CLR that Seeking Alpha's alert readers rightly condemned as rubbish. -- Alan von Altendorf"
SA removed the at the request of the the author last night who acted fairly quickly, who eventually noticed how BIG his error was and that it essentially made the article pretty worthless since it went to the focal point of the article.
There was a post under the article by a reader who posted what the artilce said and compared that to what the facts were as posted by Continental in some SEC filing....and the author read the info wrong by a factor of 1,000 by missing and misunderstanding a "M"....which added THREE ZERO's ...
The copy of what the SA reader posted under that article notifying the author is posted in the thread started by RLP, if you want to look for my post of it, so you can see exactly what he wrote.
So essentially....the article was incorrect and it was removed.
Everyone can make a mistake......but that one was a pretty BIG mistake.
norris, that whole event still is a bit unsettling. That "analyst" seems to have the years of experience and the background that you might expect....as far as I can see.
I have not read any other articles by him before.
When looking around a little over at SA, it has this:
"I've received some emails, and this is what I replied to all:
The article was withdrawn at my request because it contained a material error of fact of preposterous magnitude which invalidated much of what I mistakenly thought and said about Continental Resources.
Alan von Altendorf "
But the SA profile changed from yesterday ...from a company called CWSX to a software company when you look at SA for his profile.
BUT, CWSX does look like a small geology and geophysical consulting service.
So, when you go to their website contact page, there are a few "Industry Contacts"....which includes
The Oil Drum....also Rigzone, Seeking Alphaand several others.
after reading that article.....what do you think???