Looking forward to Q3, page-17

rick23

Hope you enjoyed that bottle of vino....

Haven't posted much because haven't had anything to add. It was a recent post from mrdin that got me thinking again about the investment. It takes a lot of courage, or strong discipline, to walk away from an investment in the red. It looks mrdin did that which I totally respect.

Have given the whole story a lot of thought since then and even accounting for a level of confirmation bias I'm happy to keep rolling with STX. If I had invested with more discipline I'd definitely have exited years ago and probably would have re-invested recently at much lower entry points. But that's all history now.

The reality as an investor is that we are in a waiting period. Near-to-medium term results will be hugely directional for the SP.

I've always considered that where conventional wisdom is turned on its head there is always an opportunity to make serious money. In both the Southern Cooper and the Perth Basin new thinking, analysis and interpretation has led STX to back some 'out-there' innovative plays. I remain confident that significant value (SP appreciation) will quickly accrue if results are positive. However, only a few STX executives and the likes of Halliburton (Cooper) have any idea how Cooper/WE may play out - from their data/analysis/modelling - and even they can't be 100% certain. Outsiders simply don't have access to enough data to make any incisive commentary other than espouse the conventional wisdom that is being tested at the moment. Success at either of the main plays will surely embarrass a lot of industry geos/engineers who have written off both plays as somewhere between improbable to impossible. Not everyone will be cheering if STX is successful.

Notwithstanding the frustrations around cap raising/dilution and field delays the Board/management - in my view - have given shareholders a real shot at some serious upside. I'd prefer to think I am investing but the reality is there is part investing/part speculating with STX. It's this reality, a mix of shareholders with different motivations/time-horizons and the recent raise that for now will likely limit short-term SP movements despite the huge upside that might be one announcement away. I'm certainly not wasting time second guessing the upcoming field results from daily SP moves. But if the, or a, result(s) come in - BOOM!!!!!

Towards higher things indeed!!

Adaltiora