RE:RE:RE:RE:RE:all of this volumeoilsupporter wrote: Good40, I did get into this stock because of Exxon. I will address your points because you are a day trader and I don't want to see you scare people out with misinformation.
First point - Ryeguy and I are not contradicting one another. XOP can't speak for Exxon and Art was clear about that, as was my post. So I agree with you - we will know what Exxon does, when Exxon does it. All we know right now is Exxon is replotting its data.
Second point - I can only relay what we were told, and we were told this same anomoly impacted a different company drilling a different area. So Exxon is reviewing its data, like I say above. But to be clear, just because target one is dry, it doesn't mean there is no oil potential on Block 13. Exxon is currently reassessing the data, to see if the new information about the dry well impacts their assessment of the other targets. And then they will decide if they want to go back in to another target. We will know by September.
The market has adjusted our price to assume Exxon is walking on Liberia. So if Exxon does, we won't drop further. If Exxon decides to go back in, we should get some price adjustment. We will know in September. Anybody saying they will walk or not walk - that is just speculation.
But here is something that is positive and was stated at the AGM. Art told us at the AGM he had a financing deal to drill Nigeria, but was leaving the meeting and flying to Switzerland that same day to look at other options as they wanted to get a better deal. Art mentioned he had at least 2 other options. But it was clear, XOP was going to have a financing deal in June. And that long lead items would be ordered in July. And the actual jackrig they intended to use was described but not named. We were told the intent is still to drill in Q4 of 2017, but he covered himself by saying he couldn't guarantee that might not slip out in 2018. The Nigeria drill is a lot further along than the market is creditting us for with the stock price.
I am not telling anybody to buy or sell. I am posting information because not everyone can make the AGM's. I am hoping other people post information as well, so we can all make informed decisions. So Good40, if you want to criticize my post, then come to the AGM's and post information that contradicts me. You can't, because what I relay above is exactly what happened.
I think that too many are hanging on to what is being said by management and not enought by the managements track record. How many promises , implied or direct, have been made about any of these projects they have been involved in and without exception all have failed to produce results. Add to this poor track record a negative background for oil and oil pricing sentiment and you have a true picture of the future. Everyone is hanging on to Nigerian oil production but this is a mere repeat of block 13 promises . Just look at the stock churn and subsequent volume decline prior and after each shareholder meeting for the past few years and ask yourself why .