Ann: Petsec Announces Results of Main Pass 273 B-2 Well, page-7

So why would management need three full days to tell us that there is nothing there?

I imagined, probably along with many others, that a delay in making an announcement meant there were a number of loose ends to tidy up - future financing of the venture, arrangements with the joint venturers etc. etc.

But no, nothing to see here, just an empty hole. I think that could have been said briefly and promptly without the drama of a trading halt and the delay in the announcement.

And I also thought that there was a requirement for a trading halt and that all bids and offers were cleared before trading recommenced. I must be in error.