bill cobbett wrote:GreekIslandGirl wrote:I'm sure they have their reasons for this conservative estimate now extraction is virtually underway. Don't want to reduce the price too much by claiming a glut in the market.
Well we are 2-3 years away from extraction. What's going on at the mo is really appraisal work but think you are right that they have to be very careful to be conservative and cautious on estimates cos if they overplay share price sensitive info like prospects they will get into trouble with the NYSE regulators, the US Securities Commission.
So yes, unless an expert tells us otherwise, think we should look at these numbers as minimum figures.
You both make valid points regarding Noble's statements on the Gas. But I have another thinking as to why Noble does not want to come out and say they have hit the jackpot, assuming they have, is because, at the moment there are many countries waiting with their own drilling companies to be assigned an area for them to dig. If Noble is smart, they would downplay their findings to as little as possible in order for other drilling companies to lose interest and go home, which would leave some more fields to be drilled by Noble themselves at later stage. Once they have been commissioned to do more drilling, all of a sudden they will get new data on Block 12 that will show they had miscalculated, but in fact, they did hit the jackpot and that they also expect to do the same with other block, the ones that were abandoned by other countries and drilling companies. For all we know, Noble may well be blowing a lot of hot Gas up everyone's skirts, wishing for them to abandon drilling in the area and go home, except for themselves, of course.!
