Alley, you only lose if you sell at a loss. All I've lost is an opportunity to buy more for the same money.
If I make 50% in 7 years of holding I still beat the bank after tax.
If you bought a second television the same as your first one; is it bad buying if the first one was 1000 dollars and the second one was on special for 800? No, because if you bought it in the first place you believed the asset was worth that much or more.The second one is a bargain.
We are in bargain territory right now. It is cheap by any metric, and that is based on gas already certified. It would take a very game man to say that the reserve upgrade will be a fizzer. This will be 18 months of data. If you go and look at the little map at the end of an ESG presentation 18 months ago, and then the last one it might open your eyes. The gas field size has doubled BEFORE the upgrade and the prospects look to be joining up nicely with the fields. Interesting to note that the Coogla lead has disappeared though?
ESG Price at posting:
63.0¢ Sentiment: Hold Disclosure: Held
