Ann: Menzel Horr-1 Drilling Ahead , page-24

Recoop
Nothing is gauranteed. You could have easily cleaned up if they had struck oil in any of the big drills. I think your decision to buy three years ago was a good one and working at you price based on your holding and loss, your entry was also very good.

A few months ago I received a call from a broker who told me their biggest shareholder wanted out and was wiling to sell the entire holding ( 15'million plus from memory) for 37 cents. I placed an order for 36 but hey changed their mind when they released the poland Ann I asked the broker why COE doesn't buy ITc with their cash as it seemed such a good fit and they had already flagged the fields were much bigger than the official reserves. His answer was MS was tight and was always looking for something very cheap. Well I think that summarizes it all. They have bought low cost crappy opportunities for over 3 years and have ended easing 10s of millions of drilling dusters.

Recoop, I am not that much older than you and my advice is keep up the research in stocks as you will find plenty that can recover your losses. Take care