joke

I was told to "BUY! BUY! BUY!" in December but 30 minutes of looking into BUY I was put off. People were talking of blue skies and dollars of value in PEP 11. In reality they were not "free carried" on the drilling (to find salty water in porous sand, which they say is positive...) they've reduced from 75% rights to 15% and now what are they going to do? Raise $20m through another raise (how many were there last year? 3 or 4 or 10?) or "free carry" again and reduce rights to 3%?

Oh I forgot about the "intrinsic" value spouted about in these threads... Is that from the 30 barrels of oil per day they're producing or from the extra 30 per day they'll get from their new holes?