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19:35
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Originally posted by RussianRoolet
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FACT is that the simple worst thing u can do in trading is to try and make cash too quick.you will get burnt!Not if there is CR after CR and nothing is ever proven as commercial - check out NEN, MEO, ++ and if you sold after the pump you could re-buy and be a major shareholder right now. In 4 months there is no cash left on current burn rate - that will be at a 20% discount to market and the falling oil price could be going much lower. No company will pay 30M let alone $3,000,000,000 for an unproven tenament that requires 100s of millions to prove up and many CRs to get it there. This is a an oil discovery and nothing more - it is not commercial proven and may well never be. Check out heaps of other companies that have found an "active petroleum system" only for them to be a "commercial duster" after spending an amazing amount of money to prove the "commercial duster". Check out NEN, MEO, RRS, RMP, ++ Meeting their own expectations is irrelevant - how much will it cost to prove up to be commercial and what are the project costs for a wild cat 100KM off shore, in 1KM deep water and 4 KM down? Where is an objective model to prove that from a Wild Cat drill 100KM off shore, in 1KM deep water and 4 KM down? Check out heaps of other companies that have found an "active petroleum system" only for them to be a "commercial duster" after spending an amazing amount of money to prove the "commercial duster". Check out NEN, MEO, RRS, RMP, ++ They thought they had up to billions of barrels! Pure speculation - commercial discoveries are 1 in a 100++. Nonsense
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Haha Jesse Langely check this bloke out!!
(20min delay)