Sean, speaking for myself I have never felt that slow operational moving is hiding anything and I quote you "Unfortunately, shareholders are now taking slow operational moving times as "we're hiding something." My biggest frustration going back before your tenure is the misleading dates and lack of explanation for false starts and then the lack of TECO credibility it led to. In addtion the Safe Harbor Act has been used to it's full advantage. Here are a few examples and I explain further:
Treaty Energy Corporation Announced its Madeley Well is in Production of Oil and Natural Gas
http://ih.advfn.com/p.php?pid=nmona&article=53458614
Was there any follow on news to explain why and when Madeley stopped producing?
I don't remember that information being disclosed. Madeley died on the vine and I needed to find out the results through other shareholders.
Treaty Energy Corporation Acquires Four Oil & Gas Leases in Shelby County, Texas
http://ih.advfn.com/p.php?pid=nmona&article=53300609
Mulshine would tell me that insiders were excited about ongoing operations based on PR's like this Shelby lease PR. What they were excited about is beyond my comprehension since it ended up meaning little but it sounded great at the time. I bought expensive shares based on this news. I suppose many others did as well.
Treaty Energy Corporation to Finalize the Shelby County Texas Lease Acquisitions This Week
http://ih.advfn.com/p.php?pid=nmona&article=53656058
Excerpt from PR:
Mr. Reid added further, "We will re-enter the CHUMLEY well per the plan of Jimmy Jones and rework the well with an expected increase of production to about 200 BOPD. With this re-work production should increase to approximately 420 BOPD and 822 MCF of natural gas, or $902,500 per month, net after royalties. This well should be reworked within 30 days by Jimmy Jones and his drilling team."
How does management explain statements like the one above and why in hell would the market continue to believe in future PR's based on this BS? They obviously learned lessons because they have changed their policy. The new policy being only announce IP and consistent production numbers weeks after the well starts pumping and for good reasons but IMO damage was done. The current .013 PPS and low daily volume TECO's common market suffers is all telling. Sure there is the Safe Harbor Act and that law protects words like "should" and "expect" but what about integrity and credibility if TECO truly wants success? One of the only reasons I've continued to buy shares is to average down my price point due to buying very expensive shares during this time period.
Treaty Energy Corporation Announced its Madeley Well is in Production of Oil and Natural Gas
http://ih.advfn.com/p.php?pid=nmona&article=53458614
Was there any follow on news to explain why and when Madeley stopped producing?
I don't remember that information being disclosed. Madeley died on the vine and I needed to find out the results through other shareholders.
Treaty Energy Corporation Acquires Four Oil & Gas Leases in Shelby County, Texas
http://ih.advfn.com/p.php?pid=nmona&article=53300609
Mulshine would tell me that insiders were excited about ongoing operations based on PR's like this Shelby lease PR. What they were excited about is beyond my comprehension since it ended up meaning little but it sounded great at the time. I bought expensive shares based on this news. I suppose many others did as well.
Treaty Energy Corporation to Finalize the Shelby County Texas Lease Acquisitions This Week
http://ih.advfn.com/p.php?pid=nmona&article=53656058
Excerpt from PR:
Mr. Reid added further, "We will re-enter the CHUMLEY well per the plan of Jimmy Jones and rework the well with an expected increase of production to about 200 BOPD. With this re-work production should increase to approximately 420 BOPD and 822 MCF of natural gas, or $902,500 per month, net after royalties. This well should be reworked within 30 days by Jimmy Jones and his drilling team."
How does management explain statements like the one above and why in hell would the market continue to believe in future PR's based on this BS? They obviously learned lessons because they have changed their policy. The new policy being only announce IP and consistent production numbers weeks after the well starts pumping and for good reasons but IMO damage was done. The current .013 PPS and low daily volume TECO's common market suffers is all telling. Sure there is the Safe Harbor Act and that law protects words like "should" and "expect" but what about integrity and credibility if TECO truly wants success? One of the only reasons I've continued to buy shares is to average down my price point due to buying very expensive shares during this time period.
