Pantheon Resources - US Gas Play

the first RNS at 7.02am "Padre Island Testing Update" was, to my totally amateur (in terms of oil exploration) eye, entirely clear, saying the initial zone was uncommercial (while showing traces of non-flowing gas), that the pressure from it was "as expected" and that commerciality of the major 800' play would be established one way or another only after the next core sample. Not wonderful but no big deal. The subsequent reports/paraphrases of this announcement were totally misleading, either through ignorance or mischief - we'll probably never know which, or it might even be a mixture of both. What amazes me is that the market appears even more ignorant than I when it comes right down to it, which is really saying something! Of course it would have been nice if the first test had been encouraging but (surely?) everyone prepared to risk their money here must know the biggie is what matters? I've taken the market reaction is a cue to add, as I know have lots who post here.

A slightly similar thing (in terms of market understanding) happened at PCI recently when a technical element of the result was widely misinterpreted as negative when it was, in fact, positive (I added there too). I'm now beginning to wonder whether the extreme volatility in this sector is due in large part to market ignorance compounding the inherent risks, in which case anyone with better understanding and a calm disposition will have many opportunities not easily found in the wider market?

Good luck all; we should know fairly soon if the major play is a goer or not.