RE:Who is Lying? It's about credibility Sporty.
How in the world can they "confidently" increase the net pay in Kawa-1 pay zones and do the same in Wei-1 Maas/Campanian successions? Yet for Santonian, they manage to overshoot their initial estimation of net pay by close to 80%.... that's absurd. Credibility instantly shot right there.
Maastrichtian zone instantly becomes the new "target" for development. Based on what exactly? They never once stated the reservoir properties and associated resource evaluation. Again, given their history of misleading statements, how can anyone take this seriously? Again, credibility shot right here.
Net pay... no one has any idea how in the hell this JV is applying a cutoff. In my opinion, given the extreme reduction in Santonian pay, why should anyone have confidence in their estimation of net pay in any other horizon? They sure as hell have not built any trust in anyone to force us to believe the got those other zones correctly.
As mentioned during the YouTube call with SheDrills, Frontera "genuinely" believed they put together a coherent and effective news release. I personally think it was a intention tactic to tank the share price to allow firms like Gramercy the ability to accumulate shares at a major discount. Either way, absolutely no reason why anyone should have confidence in the JV team after this official news release and subsequent half-as*ed call with SheDrills.
Hopefully on the lead up to Monday morning, this JV team does a detailed news release on their "updated" knowledge of the basis, halts the stocks, and forces people to listen to the online video chat. Then again, knowing these two companies, they will probably roll out losers like Victor Vega and completely destroy any remaining confidence in the project.