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Strategies & Market Trends : Strictly: Drilling II
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To: Cogito Ergo Sum who wrote (10320)4/1/2002 9:29:29 PM
From: Frank Pembleton  Read Replies (1) of 36161
 
Kastel... nah, never posted that one - but I'm well aware of the restatement of reserves game. Funny thing though, Rio Alto warned about this in January, but they warned that the revision was in the 10% range. I'm finding it hard to believe that the write down was a "surprise" at 36% -- a dramatic change in the size of this company, eh?

So I guess it's up to us to see if any insiders start picking up this stock - because I'm sure they're piling on all the bad news here at once.

Regards
Frank P.
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