Monday, July 8, 2013

Did Dan O. Dinges president of Cabot Oil and Gas lie to investors / re: Constitution Pipeline?

It is a crime to lie to the SEC..
but Is it a crime to lie to investors?

OK, sorry. I can't prove the man's intent.
Maybe it was an honest mistake?
Check the facts:

Cabot told their investors:

"On the comment on the Marcellus infrastructure, we continue to see good progress on infrastructure program by our midstream partner, Williams is scheduled -- is on schedule with the right of ways, the permitting, construction and all the aspects of continuing on an ongoing infrastructure buildout for '13. Specifically, nearly all right of ways have been acquired and the vast majority of the gathering permits are in hand for our '13 program."

    -- Dan Dinges 2-22-13
    Cabot Oil & Gas Management Discusses
    Q4 2012 Results - Earnings Call

YET-- Two days earlier, Cabot told FERC something slightly different.


"Roughly a third of the landowners along the 123-mile stretch that would be traversed by the proposed Constitution Pipeline have withheld permission to its developers to have their land surveyed, according to the company's latest filing with federal regulators."  -- Joe Mahoney, Oneonta Daily Star, February 20, 2013

Whoops... Trouble in TruthLand?

Hey, investors believe that everything is "on schedule",
but didn't the schedule slip on the Constitution Pipeline?

"Williams hopes to file its official application in January, 2013"
-- Rachael Colley September 17, 2012

Didn't make it. Then there was this:

"The people, United,
will never be defeated.

The Constitution Pipeline,
will never be completed!!"

-- a crowd of mostly kids, Oneonta FERC scoping hearing,
       (800 total attended) 10-24-2012
Then they gained a new investor, and slipped the schedule from Jan 2013 to "Spring":

"Pipeline plans to file a formal certificate application with the FERC in the spring of 2013." -- New investor (Piedmont), Tue Nov 13, 2012.

Whoops, they didn't make that one either.
Spring 2013 is March 20-June 20.
They filed June 26. (Summer)

The really amazing thing about the call is they
are bragging about the "Success of Dimock"
but NEVER mention any of the problems
to their investors.

The other thing is, they don't give any indication to their investors
about the size of the resistance movement.

May you, and all beings
be happy and free from suffering :)
-- ancient Buddhist Prayer (Metta)

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