It influenced me. Last year I sold down when they only had the one asset, and Bush starting sounding a bit Armegeddonish. But that was at about $1.50, oil was 70 or 80, Edirne sounded boringly trivial, California wasn't even a rumour, and they hadn't picked up the recent exploration blocks in Turkey. Also I was more worried about sp sentiment than real sabotage.
Since then they have become so cheap, done so much, Bush is going, so I've bought more than 10 times what I sold.
Risk everywhere, but how much do you want to price in for it? A PE of 4 or 5 not low enough? As it turned out Wall Streets CDO bombs have done my portfolio a lot more harm, than a couple of months production outage ever would.
EL
IPM Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
