LSE tonight, page-4090

Hi G...that is a major reason I won't touch offshore...don't trust the technology and negative enviromental risk. Also production costs are much higher both short and long term.
Also won't invest in oil in developing economies...again don't trust regulatory safety elements.
Not saying such investments won't be profitable...saying...why invest in those plays when you can invest in first world land based conventional/unconventional plays? Especially these Alaskan plays where you have all the majors lined up next door at Prudhoe Bay and the excitement of the new player at Smith Bay a little further up the coastline? Other than OEL havn't seen anything else that compares with us. I was going to enter OEL a while back but at the time they were dusting too many holes offshore and was worried by their cashburn as they had too many projects going at once...felt at the time they couldn't hit the side of a barn from 50 feet...then I spotted 88e!
From more recent reports think they've lifted their game but think that has been off the back of us. No prob there the more the merrier I say but the big difference is we have DW and PB and I love their "fast fail philosophy" and tight spends. Their use of funfs is exceptional...you'd think they were running a private enterprise.
One other thing as well which isn't obviated often (if ever actually) is that 88e is a very liquid stock...unlike most other spec stocks it doesn't lend itself to getting holders stuck due to barren demand...for me that is a huge component to any stock selection...and perhaps the most important...why?...because I am always wary of GFC incidents(just coz I'm in the stock market doesn't mean I trust the stock market)...so I always buy stocks that I can dump in an instant...others use stop losses...I use liquidity...happy to drop 10-20% of my capital in a GFC scenario...but not by botts triggering them as happens so often to the benefit of the parasite instos.
Cheers G