john paul jones... jack rabbit junior, page-67

From the information you have provided me with Shrewd I would agree that your developing oiler strategy is sound, in fact I have followed a similar one in the base metals sector. The strategy suits your risk return profile - strong upside, limited downside.

But my risk return profile is different, I can afford a bit more risk for higher return. NWE, CUE, etc do not have billion barrel potential, no matter how far away RRS's may be. Range is a small part of my portfolio, around 10%, so large enough to make a real difference on the upside but insufficient to really impact me if I was to lose it all.

You have raised the ire of people on this forum not because of your opinions, views, or depth of research but your assumption that everyone has the same risk reward profile. I agree that for you RRS is not a wise strategy. I am happy to run the opportunity cost of not holding NWE etc versus the chance that RRS may run in a fashion similar to May this year some time soon.

There are many elements to assessing investment including risk-return profile as well as transaction costs, including tax which is a lot different for me than it is for you.