lesson learnt

Pretty much gutted, but what holder isn't.

Must admit, I got caught up in the hype and certainly the excellent technical posting here which suggested a very high COS, all helped along by MEO management crowing.

The final decision whether to continue investing is and was mine, so my bad. Would I have invested as much without those excellent posts, no I wouldn't have but the prospects of so much loot heading my way got the better of me, even to the point I was designing my wife a new house.

I quite often shake my head at stories on the TV of people getting sucked in for investing in a project of this that or the other promising excellent wealth returns, only to have it fall flat. Just goes to show, no matter how cynical and skeptical one is, you can still get burnt.

The old lesson of "If it sounds to good to be true, there's a 99.9% chance your about to lose your shirt" still stands.

On the upside for LT's, there are more drills in 2013 and there is Tassie Shoals, even if MEO ends up not having gas themselves, it should prove profitable, albeit not as profitable the other way, but time (possibly around a year and a bit) will tell where MEO ends up on that.

I was going to sell out at a third of my buy in, but at the end of the day and looking at it rationally for what was best for myself I decided to put them in the drawer for the time being. If something else I have rockets, then I can either use them for a tax break, or at the end of the day see what the next year brings.

Lesson Learn't - No matter how good the research, no matter how high the COS, no matter how enthusiastic the hype, no matter how 'encouraging' it may seem, no matter how excellent the probabilities, it is still anyone's guess as to the final result.

Now if you'll excuse me, I need to use my Stress Reduction Kit again....