RE:StallingIngiboy wrote: Green & Sherbrooke we all muse and speculate what the hec is going on here but to me it seems apparent that the management is doing it's best to stall for time with the reserve report and year-end report to get as close as they can to the May 9th expiry of the B warrants.
Parex submitted its reserve report Feb. 12th. It covered the majority of Petroamerica's producing blocks. Petroamerica would be using the same information for its reserve report so why the 2 month delay? I am selfishly happy that the B warrants will expire without further dilution but this stalling tactic has destroyed the share price.
Yes, I'm happy they will expire soon as well (or else I'll be voting to turf management).
If you believe that they are holding off releaseing the 2P reserves to 'hold down the price as long as possible' then you must believe they are pretty good numbers.
Sadly, it seems that if Parex new in February, PTA's management should have known then as well, so why have they not been released yet? Are they not material information? Aren't they still bound by Canadian securities laws?
Can you really see them sharing the cost with Parex for the engineering firm that did the estimate, and then telling the engineering firm, "Don't tell us the numbers for a couple months"? I know, I know. The loophole is probably because they were waiting for the other 3% of the reserve numbers to be calculated. I personally still consider the LM numbers to be material, as over 95% of our production comes from LM, and as such, would have liked to have seen them released at the same time as PXT released theirs. I see no 'good' reason for the delay. Just loopholes that let them get away with it.