RE: News Release Expected Tomorrow
Zoldie - where do you get these figures from? The company has consistently reported that companies drilling in the area have had an 85% or greater success rate. In fact they have stated the success rate is virtually 100% when companies have had 3D seismic.
I have owned many oil companies over the years and the direction of the share price has always indicated ahead of the companies' announcement whether or not the drilling has been successful - this includes Winstar - the share price started to go down before they announced the last dry hole and the same has been true with their other drilling results. The idea that a company has no idea of the results until testing is completed is contradictory to my experience.