maclean - a dud all along?, page-6

I must say, I did find it odd that the shares didn't stage the usual pre-target rally and sell-off...

The way the recent rights issue and free options conditions were set, it appeared the company was setting themselves up for a major pay-day.

Success would have resulted in substantial returns for all who took the risk.

As we all know, it didn't eventuate...LOL...welcome to the speculative oiler end of town.

I thought given the previous work on Moby and the flathead anticline, and the resulting geological understanding of structure...and especially considering they also had new 3d siesmic to help with their analysis, that they might have a little more success than they did.

Getting back to the pre-target sell-off...one might almost deduct that the market was fairly confident they wouldn't find anything.

I wonder if the pre-drilling analysis was a bit rushed due to the "drilling slot" suddenly becoming available?

Cheers!