It was but one example yes BUT given the fact that the sectors being discussed have fallen so badly the the first part of "buy low and sell high' is surely more squarely satisfied now than before hand.
I would regard a 'fond hope' stock as one that raises money to drill and if the subsequent drilling fails to find anything will raise yet more money to drill at a lower price than the last time and so on. In other words there was little or any gaurantee of any return - those in distress should steer clear of these scenarios in my view.
