Not really honestbob, you can see in that PR they were well aware then of the likely size of the field and their estimates then, both with respect to anticipated production and reserves, is very close to current figures given out.
Re the subsequent change in plan, someone seems to have fed this gullible bunch a story of what would better work and presumably could be funded, so the original staged plan was summarily dumped. These guys seem to have the rare ability to lurch from one delay to another, with the compounded effect on possible production date we now have.
I assure you I have NO worries at all around XEL, I was curious , what is even more curious is that apparently nobody has a clue why, if I held I might ask why. Again whether holders hold or sell is not my business, I am here to short on the next spike, I made that clear many times.
I think main problem was Bentley far bigger than thought - if it had been the original size a small operation would be in place pumping oil and generating income and profit and my guess is shares would be £2.50 to £3.00 with a dividend
Pity company didn't follow this line and then use generated profits to finance a second larger scale operation
Rather than try to go for the second one straight off
I think directors instead of keeping feet on ground and progressing steadily got carried away with excitement - which might not have mattered if it had not been for oil price collapse.
Hopefully they have learnt their lesson and are proceeding in a steady sensible fashion .
I don't think an RNS is needed every two minutes but it wouldn t hurt for some sort of update as to what is actually happening rather than the usual platitudes
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