Duster or Gusher.. A Case study, page-11

The telltale warning signs start with all the hype and promotion from brokers and other promoters on HotCopper. Hugely inflated potential reserve numbers and absurdly high probabilities of success. Then there is the usual cap raising to sophisticated investors , followed by the stock being pushed to retail investors , mums and dads etc. The stock rises before the well is drilled and the sophisticated investors sell for a 50 to 100% profit! leaving the bunnies still holding the stock and taking the well risk.
It is not that I am cynical. It is that I have seen this pattern so many times before. The most recent was TPT , where there was all the hype and hoopla, a cash raising to SI's at 16 cents, sp went to 32 cents and by then most of the smart money had sold. Well was a duster and shareprice is now less than a cent. Many fingers burnt.
Who knows, maybe you are one of the promoters , in which case you will know how it all works. If you are not , then it is worth considering that junior oilers rarely strike it big.