Who are you going to sell to? There's no market for BUR. Sell a hundred thousand @ 3c? What then?
Yes, the whole thing's been a disappointment really. Five out of five wells - big deal when all they do is pay for the next round of Kugler employment. I'm beginning to loathe that name, lol.
I guess it has kept the Kuglers in profitable work, but could non-technical investors have had any idea of the difficulty of completing a lateral drill, or how fast these things can drop off in their flow rates, or how quickly the natgas market can get saturated, or what a hassle it can be to get drill rigs?
Gee, to have the $75k I threw at stupid BUR and be able to put it into Woodside Petroleum when it bottoms. It's already paying a chunky ff dividend at the current price, and what a fantastic record of earnings and return on equity it's had over a decade. Of course who would ahve thought WPL would fall this far? BUR is like the poor man's energy punt - "WPL and STO etc is too expensive, what's cheap with prospects?" Buying BUR was just falling for a good story. What was I thinking? Get rich quick.
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1 | 3044 | 0.082 |
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Price($) | Vol. | No. |
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