Hess spokesperson

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moneytrader

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Hess spokesperson

posted on Jul 05, 2013 09:40AM

Australia's 'Farm Weekly' isn't exactly my go to source for info on the oil & gas sector (and I don't agree with the tone of this article)... but they did manage to get a quote from a spokesperson at Hess regarding the drill-or-drop decision.

"...A Hess spokeswoman in Perth declined to confirm the company was seeking time to conclude a farm-out deal and put the decision to exit down to the results of early exploration work.

"Based on a technical and economic evaluation, we've decided not to move forward with an exploration drilling program in the Beetaloo Basin," she said. "The project does not fit with our company's investment strategy."..."

http://www.farmweekly.com.au/news/agriculture/agribusiness/general-news/hess-walks-away-from-nt-shale-venture/2662894.aspx?storypage=0

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Trying to spin it so as to cover up their screw up by suggesting the seismic data wasn't good enough. And still no official press release from Hess... Disgraceful!!

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