Well well. I am surprised it lasted this long. Its filed under "lessons learnt" and probably has saved me money since because I have a far better idea of how to look under the hood now.
Certainly if it walks like a duck, swims like a duck and quacks like a duck it may still be an inept, self-serving, lying set of shonksters at work to get your money before the game runs out of legs.
I have no problems with any of the people who promoted the stock here and tried to keep us informed, Acreage in particular, and I thank them all for their efforts. By any set of due diligence you could do, and there was plenty of it, the play had perfectly sensible dynamics and should have played out successfully. How we seem to get the only 1000's of acres in the PB without substantive oil is anyone's guess. And how many problems can you have in any one hole? And why couldnt they actually do the plan they had set out. I suspect the next owner will strike pay dirt on their first drill into the earth. GGP Management didnt just drop the ball over the line, they ran to the wrong tryline after telling us the play.
I guess I now know that success of your neighbours, whether it be in an oil well, gold tenement or a drug in the same class or family, is no guarantee of success and even in the simple act of drilling a hole there is a lot more to it.
I am not in the IG action, I've thought about it, but just couldnt think to throw yet more money at this, and then other things came up. If I had known the ignominious close out we are seeing now I might have made a different call. These rats should really be called to account.
Unfortunately, there is no Sentiment of "Would sell but cant" or Position of "Where did my shares go?"
GGP Price at posting:
2.5¢ Sentiment: None Disclosure: Held
