Now as the update we all waiting for is out. I can say this clearly and without doubt, as I didn't want to make any negative comments weeks ago when I first read their announcements about the drilling at Bowsprit.
I sold 2/3 of my holding @1.9 and left small portion for the results day, just as speculating. however, I knew results may not be as good as people think. that's because they said many things in their updates that could tell anyone knows in the oil explorations that results aren't gonna be good.
First and most important thing is the chance of success, they've said it's 25%. In fact, that's not a great COS at all in oil explorations.
I've done my research at that time and found out that the good COS would fall between 30-40%. And 25% wasn't going to be enough.
When I saw today's new I wasn't surprised, and managed to sell my last portion at 1.5 (small profit).
Please people always be carful when putting your money in a speculative stocks.
Good Luck all in other investments opportunities.
PRM Price at posting:
1.2¢ Sentiment: None Disclosure: Not Held
