It is your call. I got excited about CIG 3 years ago because they were purchasing their own rig and sounded like all they had to do was drill and oil would come gushing out. The JV with Santos was the other reason and I figured the odds sounded pretty good on finding a few million barrells of oil and to become a producer. Sell my shares with a 300% profit...
Sadly they have not found commercial levels of oil yet and management seem to be able to time everything so horribly.
At the end of the day, this is a spec stock, which sadly come December/January may not be going anywhere...I am always the optimist and are hopeful they will find new oil.
What do you others think...we do have some big players in this forum...
CIG Price at posting:
14.0¢ Sentiment: LT Buy Disclosure: Held
