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Originally posted by rolf2903:
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Brightoil, I can feel your pain and panic mate. I can see you went all in and I am sure you had been looking at your profits daily as if it was your bank account rather than a point in time valuation. So no doubt you are feeling like you have lost real cash. But i think its important you keep a clear head re what has happened so that you don't make the wrong move next. They found oil. Enormous amounts. It is movable and highly likely to flow if they can design a well that is fit for purpose and the rig appropriate. The market has hated it because it both extends the time to commercialisation and it adds significant costs to the plan, neither of which is a good thing. But if you can take a step back and look at this with even a 12 month strategy things arent so bad. Yes costs have gone up, but I personally dont think costs are the biggest issue here. A cap raise will happen no doubt at some point and we dilute a little... but the amount of oil in the ground enormous and could be even bigger. than we know The value of that oil once we get it out will dwarf any cost increase/dilution we have had.Our CEO got the market excited, but so he should have. The opportunity was there for this to play out like a dream. He wasn't to know the pressure would be that extreme I don't believe. He wasn't playing games, he has 200m+ shares. It's very real for him.I too constantly look at my portfolio and it is impossible not to feel significantly less wealthy/poorer than a few weeks ago. But we aren't, we just dont have an adequate valuation on our assets yet that shows up in our portfolio's. So if you believe in the find, then try to stay strong on the value being realised rather than thinking of it as a gamble gone wrong. That's not easy to do when there are posters who take pride in kicking holders when they are down and raising their fears, either for fun or for profit.And zapato, in my view, is all upside. I dont believe we crash down (not sustainably anyway) if it doesnt gush oil. What we have already in my view will make these prices an absolute bargain in a year. If zapato comes in then you will be posting about how incredible your judgement is and how silly all those sellers were.
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Great reassuring and supportive post, would be good to see these more often than the usual posts telling anxious investors to eat a cup of concrete.
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