Ann: Letter to Shareholders , page-52

Loki,

"I agree. However, along the way the shares usually find their true value at around $0.001 cents/share, at which there is a 1 for 50 consolidation. That is rather painful for shareholders....."

You're still woefully wrong.

"If you read my prior CVN posts carefully you will note my negativity back in 2010 and 2011, especially about the oil/gas sector. I think conditions have gotten worse (unless one is lucky) because of the new gas being developed with new technologies."

I recall your general negativity back in 2009 too when you were calling, was it 2500 or was it 1500 for the ASX. Everyone else enjoyed the mother of bounces.

New technologies. Well it's not at all bad for the sector, but it does shift the reward centres,....perhaps from the Middle East in general to areas ASX companies can better access, perhaps even to those with difficult but oily ground such as CVN?

Not sure you are a more worthy commentator on any thing oil than anyone else here, or on the broad market (having probably predicted 10 of the last 3 market slides).


"... always looked at it as a very spec sector, and not investment grade. It is more about finding a greater fool to offload to unless you buy an established producer like WPL and Santos when they are going cheap."

Well perhaps you shouldn't bother with the sector, or us fools in it at all? WPL was a spec once. A lot of us also made a heap in the csg sub sector, which is not to say that I am not also pretty cynical of the sector. There are opportunities, and for quite a while CVN looked like one.

I personally wouldn't touch anything retail, and although I hold partly gold stocks view gold itself as a giant confidence trick, albeit one which will probably outlive me.


So what bothers me about your posts is that it is all about gloating, coming back to revisit the fools still in a stock at mult-year lows after you left honks ago, mistaking your good fortune as skill. You bring no helpful insight, just reinforce the pain. Do you revisit your miscalls in similar manner?

EL