KOB.TO - East Lost Hills & GSJB joint venture Message Board

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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture

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To: Salt'n'Peppa who wrote (11995)	9/25/2000 11:43:42 AM
From: que seria	Read Replies (2) of 15703

S'n'P: I understand/agree with grayhairs' points, and agree about the e-mail "dad" got--I didn't mention it for that reason. I see that my post in the context of a discussion of the e-mail gave another impression, but my point was to the much weightier issue raised and partly discussed in grayhairs' and dad's postings: selective disclosure by companies of information that really is theirs--logs, test results, etc. Conjectures from the company can be very valuable information, even if they are not in themselves facts. If/when company insiders are telling analysts what they think about the company's prospects, everyone understanding it's not factual, do I have a right to the same conjecture? That's one issue. The answer should be yes. Company insiders should not have some inherent right to leak confidential and material data or conjectures to their buddies, with impunity from sanction. The worthy side of politics lies in setting boundaries in such widely debated matters. At least as to material facts, I have never heard or read a convincing, principled case for a company's right to selectively disclose them. We can all recall too well the trading histories in ELH that lead to my comments (granted, I can't prove there was trading on inside information), so I won't belabor the point. The U.S. SEC has recently tightened the rules regarding material disclosures. I wait to see whether SEC enforcement will offer Canadian regulators any model. Maybe after Janet Reno leaves . . . Continuing thanks to you, grayhairs, and the other experts whose contributions render such political questions a mere sideshow between "material" reports of drilling news!

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