Slow Ranger, as I've stated before; I understand business delays and I have learned that the oil exploration and production business can have more types of delays than most. I can accept that. As you implied in your last email and what I "can't" accept is TECO's attempts to claim BPD i.e. revenue with 100% certainty. I understand there is a safe harbor clause in PR disclaimers and an investor should beware but at the same time company insiders just can't continue to blatantly exaggerate implied revenue/BPD in multiple PR's over the course of 1+ years and continue to survive the consequences. That type of behavior invites "fraud" allegations. While I believe TECO is trying to achieve success and might be victims of circumstances; they need to shut up, put up and then speak. We hear they have learned lessons and will only PR dates and estimated BPD with a conservative estimate. Then they just did it again with the recent PR touting 400 BPD out of W. Texas using TNC/Pistol drilling and it "should" be completely by end of 1st quarter. Gwyn doesn't qualify that statement with "unless we hit bad weather" or "unless TNC....". The PR's are always in a form where credibility can be further stripped if they miss these specified numbers and timelines and thats a fundamental mistake IMO. Drilling was suppose to start when in order to complete the 21 well program by end of 1st quarter? Why don't they ever PR reasons for delays or reasons for not following through with previous milestones so shareholders can understand the delays instead of hiding behind these delays/failures with more of the same?
December 18th PR:
Mr. Gwyn added, "With the expertise of TNC Energy, our production will start to rise quickly, which brings revenue directly to the bottom line. Once these 21 wells are drilled by TNC Energy, we should see production levels around 400 barrels/oil per day, and this should be completed by the end of the 1st quarter of 2013.""
