ARHT Media Inc V.ART.H

Noise?

[GreatSwami]

I must admit - yesterdays sudden end of day drop had me wondering whether we might have run into some WZR like bad luck - but as it turns out the steady drip down has been through a few people knowing that there were some drilling difficulties - and taking advantage of it - while most of us were simply kept guessing. Hope that the negativeity didn't get to too many here?

I had sent e-mails to the company asking questions that of course I had not expected they would be able to answer - and of course they answered pretty much as I had expected... Simply confirming thet drilling was progressing and that material news would be released - when it was necessary to do so. Since that was a short while ago I guess this current news release was being prepared ready for release - so of course they would not tell me what they are just about to release publicly. But one (among many questions asked) question was simply whether they had run into hole problems and had had to run an extra intermediate casing string before they could safely drill ahead through the main reservoir intervals.

I find it funny that some here claim to be getting information out of the IR departments of the various companies involved here when it is patently obvious nothing material can be released privately that has not actually already been released publicly?

The News release is much as I had expected - they ran into hole problems - drilling was slowed and they have to run an extra and unanticipated casing string to get their troubles behind them. They have not yet seen anything from the main reservoir targets - so of course you can immediately put on ignore all those idiots who were claiming certain knowledge that the company had already drilled to TD and had not found anything on the way!

As an aside I know of a company here in the WCSB that is only now drilling ahead at the same depth as it was at over a month ago due to unexpected drilling difficulties. (Unexpected even though the liklihood of such things is always in the realm of possibility!)

There are no real changes in the probabilities of success(or failure) ahead - the drilling operations are just more expensive to this point - but nothing really has changed from where we wereat a month ago. As always when all is said and done - there is always more said than done...

Wish I had access to spare funds to have taken advantage of the unexpected opportunity yesterday - congrats to those that did and can do some trading to reduce their average cost.

I guess it just takes longer than we all wished is all.

GS