Footy, I think in the overall washup I had small losses from back then but I expect many people made some good gains. I have always watched this one as I think it is closely watched and it has been good litmus test for sentiment and will be in the future.
At the moment I think the production cost is the most important thing and I am looking forward to the Annual accounts to see if my logic holds. Imo NS is a good asset, more like a manufacturing plant now which appears to be in good ground. I expect despite low OP the margin here today is better than last year mainly because of the volume efficiencies, oil/gas mix improvements & also the cost savings. I found this article today which also puts some balance to OP focus Motley Fool: Number that matters..
Two lessons I learnt from back then 1. Not to give mates stock tips and 2. Small losses are better than big ones. There were many more lessons as I diversified but those ones stick out and also that EV to MC ratio has been a good guide identifying risk for me as has benchmarking to many other stocks. Personally I think we can all put our experiences/losses to good use when things pick up.
An issue I see with Oil Price is it is possible that if prices get up around $60 some of the drilling will start
back up in the good areas and that added to existing completions could keep supply up, thus the focus on costs which works no matter what the OP is.
Cheers & thks also for your efforts over the years
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