im gonna say it again, page-7

Thanks boffin, good to see some argument there, rather than just "the sky is falling". I'm reading far too many posts like that at the moment, which just get people depressed without offering any information or insights.

Like you, I'm disappointed with the performance of this stock, but as an oil exploration company, it's always a bit of a punt - if they find oil, it comes good, otherwise it might not.

The profit (or loss) announced recently is irrelevant, as it is completely dominated by artificial (accounting) items. The underlying cash flow is solid, so that their exploration activities are paid for by their (real) profits. At present, they are spending pretty much all of their income on exploration.

Why I'm holding on - they have solid production, and some interesting opportunities. I'm not really counting on Angola though. Bottom line is, it's still a punt on whether or not they find more oil.

Good luck with your other punts!

BB