Ann: Bimonthly Drilling Report , page-5

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  1. 6,942 Posts.
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    goodaye hardmano,
    you mention ESG may be holding onto flow info for strategic reasons.
    quite likely in my view.
    I used to be hesitant to say those sorts of things, because coys are supposed to make "continuos disclosure".

    But have a look at MPO / WCL / Anglo asset sale situation.
    Anglo was selling its Mungi assets, in which it had about 25% interest. MPO had about 50% interest and was drilling some wells on a sole risk basis. MPO did not release results of that drilling. S/H on HC were complaining for months that they heard nothing.
    So what do you know - MPO wants to see a low price of Mungi sale - then uses its pre-emptive rights, and acquires a further share of the Mungi field.
    MPO then immediately releases results from its Mungi drilling!

    SO, it seems to me this is proof that coys are more than prepared not to release info if they are keen to see a particular outcome on the corporate front (am being circumspect so don't get moderated).

    cheers
 
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