why buy before spud works Between 10/4/2005 and 10/6/2005, there...

why buy before spud works Between 10/4/2005 and 10/6/2005, there were less than ten posts on GOP.

At the time GOP, with the interesting-looking Gilbert drill, was selling for about 10 cents, and options for about 5.

Now, there are a zillion posts a day, many of them by people who - with respect - I can't remember posting on oilers before.

There's a lot of discussion of technical/chartist/trader stuff, and the fundamental analysis ends with 'the independant geologist said X' (nb : independant geologists are like independant engineers - tell the client what they dont want to hear too often, and you find it hard to get contracts).

Clearly, it's now driven by speculative, rumour-fuelled greed. And thats OK.

Because it lets other people get out, leaving a free carry on a poportion of their holdings.

So look for the boring oilers, the ones that people dont want to talk about, and look for drilling in the future with a partner who has the money. And buy them, planning to sell to the madding crowd in the enthusiasm.

Ian Whitchurch