30 years in the oil industry hasn't helped your outlook on life...

30 years in the oil industry hasn't helped your outlook on life Skygypsy. I too have had a long oil industry career some 35 years in fact.
I remember when Aurora Oil and Gas which was a 25 cent float retreated to 10 cents and there was blood on the carpet. The management were effectively under attack. The company was in its infancy and they had to overcome many technical drilling issues with the Eagle Ford wells/acreage. Many good people exited the stock taking losses at the time because of the doomsayers.
History showed that Aurora which was Stewart, Lusted, Dowland and co got on top of the technical issues and went on to drill 100+ wells resulting in a very profitable, strong oil producing asset. They sold out at $4.60 to a large Canadian infrastructure utility some 8 years later. Now I know the stars did line up for them with the oil price but give credit where it is due. Sure I acknowledge ATS is by no means risk free however given these guys track record I like the risk reward profile just as long as you don't punt the farm on it. Each precinct in this belt is different and it takes time and money to get a handle on the individual characteristics. Given a consistent $55+ oil price and another say 6 satisfactory producing wells I believe this asset is marketable. The management are very capable at packaging, marketing and are well connected.
Sure 15 cents is a better buy price than 25 cents however as a long term set holder not a day trader I am not prepared to take the risk of this stock skipping away one day. History has a habit of repeating its self. Yes I was a big beneficiary of Aurora's past success as a result of patience and believing in the managements processes. A little luck always helps.
In saying what I have just said I must say I do enjoy your devils advocate comments Skygypsy. Hot Copper has always been a forum for reinforcing peoples beliefs even if they are often ill conceived. Cheers