Re: Sky Pilot---wells results
from 12/4 news release below, what if he had said we are very disappointed? It could have had a drastic difference on share price, thus very material. I totally agree that an insider selling is not nearly as significant as an insider buying since they could be selling for many reasons like a divorce and would only be buying for one reason. But, in addition, he had the benefit of knowing that price would go up on the pipeline news...by selling 1mm or so shares on 12/03 instead of 12/02, he made several 100k more. An outsider would not have had the benefit of knowing to wait a day. It would seem hard be hard to call it a coincidence but just my opinion. He, like anyone, is innocent unless proven otherwise.
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Wade Cherwayko, chairman and chief executive officer of Mart, commented: "We are very pleased that the preliminary results of UMU-13 indicate that the well has discovered significant pay in 11 sands of a separate seismically defined structure located east of the existing Umusadege field. We look forward to the completion of the fluid sampling and testing of UMU-13 well, and anticipate results in the near term."