Its funny how history repeats itself time and time again on HC....

Its funny how history repeats itself time and time again on HC.

We have the hype and pump posters who follow the herd and proceed to convince each other that this is the new get rich quick stock regardless of the complexities of drilling a well and the complex analysis that has to follow.

Then we have the inevitable blame game when their expectations are not met when an announcement comes out and its not what we all envisaged it would be.

We also hear of strategies getting the timing right of swapping in and out of companies to reclaim lost investments and how good that strategy will work.

Then the quality posters tell us what they tin of the announcement and what it means going forward.
But no one listens cause its not what they want to hear.

What I think must be remembered is this is the first well.
Its complicated as the announcement said.
Because its complex more testing needs to be done to find out what's recoverable.
Before they drill another well the partners have to understand this well.

You don't drill one well to confirm "a new oil province"
You have to drill many wells and understand the characteristics of each well as you drill.

A new oil province is tears in the making.

This is one step and for those who thought "yeah just drill it and start pumping it out and sell it" again most of you have made the exact same mistake as we all have on most O&G companies and resource stocks.
We all forget the time factor.

Anyway for what its worth I don't think the announcement is as bad as most think.
The first well is commercial.
How much we don't know yet.