Thanks Sam0408 - I am entitled to express my opinion without a...

Thanks Sam0408 - I am entitled to express my opinion without a nary response. If you can't handle a different opinion to yours, I suggest you stick to buying a couple of thou of small time stocks and talking it up with your mates at the pub each Friday night as they probably agree with your naive opinion and you can all talk about how clever you are.

PVD is a spruiked stock. None of the directors have any of their own money invested in the company, none of them have written a personal cheque. They gave themselves 2.5m free shares each - performance shares - shortly after listing. I couldn't see what that was actually for as they had done nothing. That was not a good look.

One way to think about PVD and the implied success suggested is if you were Plains and you had only $200m, it was your LAST $200m, and you had a '1 in 3 chance' of success in finding a COMMERCIAL oil field would you spend your last $200m on these 2 wells. Probably not as you may end up with nothing.

Also, success is not always the big plus it is made out to be. A junior like PVD cannot actually fund a development should they be successful. TAP sold out of Finucane for this exact reason. Sure it is better to find it than not, but juniors can't generally develop they may have to sell out.

Offshore wells do cost $100m, I didn't suggest PVD were paying for the wells. In fact, I have followed PVD since day 1 and have the highest sell at 96c. I wouldn't buy it at 46c. The Plains deal was a cracker and they did a good job on this.

JKA breakup is 10c. Aje is worth $25m, they have $11m in the bank and 3 options with Tanzania, Somaliland and Tunisia. What happened with JKA is an example of what happens to small companies when directors don't write personal cheques - they can walk. Same with TPT. You only walk if you have nothing to lose.

TPT I sold last year at 46c. Buying into spud does not always guarantee a share price appreciation. TPT have in fact done nothing as they drill. A dry hole will wipe them out as they have nothing else of value.

FAR well I bought this one back in 1992 at 18c when Mike Evans was boss. Today they are 4c and have raised multiple times. At one stage in about 1999 they scrapped oil all together to join the tech boom. That fell over so they went back to oil. FAR given the amount of acreage is cheaper than PVD on an EV. None of them have found any oil, how can you say one permit is worth more than another from seismic.

The ASX announcement is titled "Significant Resource Upgrade" it is misleading. They have no resource to upgrade. The research report titled "If it was any hotter it would be on fire" was a disgrace and unprofessional. And if you actually believe this amateur hour hype, I have some good swamp land I can sell you.

I am not suggesting they can't get lucky. You have to be in it to win it, but at the end of the day you need a lot of luck. Thats why there are hundreds of oil stocks completely diluted and dead in the water, and only a few that have been successful over time, BHP, Oil Search, Woodside, Santos etc. It's a very tough capital intensive business where you can only survive by success, or by diluting and raising over and over.