I know I've been a bit rude to you in the past mate but regarding risk. And I'm addressing everyone with this not just you.
This is hydrocarbon exploration. This risk is the way, and was always going to be the way. Posters on this forum have been explaining this for the last 2 years or longer, the company itself have explained the risk in disclaimers on presentations and in the prospectus for the retail SPP they did.
It's a high risk, very high reward play if it pays out. The majority have had their chance to free carry and either have, or have chosen to let it ride. For anyone like you who feels stuck because they didn't free carry and the upcoming volatility scares them try and think of the upside if we hit.
Better still though think through the downside if we dust. Run through the scenario in your head and accept it and you might find more confidence in letting it ride.
I consciously chose not to free carry as I decided losing 80% of my money here would hurt me, but not kill me. With my stake, It'd be a setback but I'd survive, and with a recent pay bump at work probably be able to offset that loss in 2 years. As a 31 year old 2 years is nothing in the scheme of things. I accept the x 2 well duster scenario and have a plan forward for me and my mental health should that happen, so while it'll be stressful if it plays out that way, it won't ruin me.
I encourage you Byron and anyone else to truly think through and confront the prospect of losing 80% what will you do next? The more concrete and positive that looks in your head the better.
Bet the farm? Well that was a silly decision but drilling will take months, start saving hard now and humble yourself and have the confidence that you'll get another farm.
Acceptance is the path to confidence friends. Best of luck to us all.
IVZ Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
