Just some remarks to explain some of the points of my previous post.
I said BLY lost about 99% of shareholder wealth- it was actually about 99.9%. Sorry for understating the damage somewhat.
The point that BLY went into a downturn earning over 30% from exploration- DDH strongly made the point that about 13% of their revenue came from exploration. When things went horribly wrong for BLY they stated that production drilling still performed relatively well and that exploration revenue fell dramatically.
West African risk concerns me but I acknowledge that PRN have managed that risk really well over the journey.
This can be a brutal sector but there are several good stocks here with strong management- including PRN.
IMHO DYOR
PRN Price at posting:
$1.04 Sentiment: Hold Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)