Yes, I agree. Takes me back to my youth when I sat on a few blue...

Yes, I agree. Takes me back to my youth when I sat on a few blue chip Company boards and sat wondering during presentations how they managed to get to 2 decimal places on 5 year forecasts. Most of us mortals cannot forecast accurately 6 months ahead! Our governments (and Treasury) evidently cannot forecast at all other than their entitlements and pensions. They are always deadly accurate on those forecasts.
Oil drilling is high risk, high gamble, great reward for the risk taken. Its roulette vs. blackjack.
Your summation that speculator shares are only worth what people are prepared to pay is exactly right.
I own a few and will buy more on the expectation that I will likely lose most of it. But if it hits then I may just go out and buy a few more bottles of aged Macallans to ease the cold nights a bit more.
I am a speculator and a participant in Texas Hold Em poker. So by nature I am an optimist and risk taker despite my financial background. But only with my money, never yours.