I asked an academic friend (who also dabbles in the share...

I asked an academic friend (who also dabbles in the share market) the following question.
When is a so called speculative stock not a speculative stock? Of course I was referring to CEL.
CEL is a speculative stock because they have found no oil or gas. However because we are looking for some certainty or elevation in the share price I qualified the question.
What if the S.A. Govt only had to pass updated regulations & CEL basically had to announce farm in (out) agreements for an elevation of the price? Arguably multiples of the share price.
He came back to me during the the week with a few ' ifs' & 'buts'. He did his research well.
When the Prime Minister & associated ministers get up not just on the South African, but on the world stage & say they want foreign investment .the desperately need, want & are going to develop oil & gas resources there is little chance of them not going ahead.
When I said earlier my friend is academic he is also conservative with his money.
The short answer is this week he bought shares in CEL but will consider selling them after the farm in is announced.
As an addendum for a country that desperately wants to develop their oil & gas I would hate to see them if they weren't in a hurry.
Now that our engines are started let us hope they do not over heat on the grid.