the oil and gas game!

Another disappointing results by the look of it. and the share price is not going any where up in the short term IMHO.

I kept an eye on this stock, never held it, I am wise enough now after many bad experiences with oil and gas plays.

Many big name posters here much more informed than me with red hearts and blue stars, people I have learnt from a great deal in the past and i still do. but we are responsible for our own decisions and we pay the price if something went wrong.

This is a very risky game, the odds are not usually in our favor. in the past few months nearly 9 out of 10 wells by asx companies were dusters. i think the casino will fare much better, but more importantly, trading or investing in other asx stocks will usually fare much better, so why take the high risk ?

first, we have 1000 feet of gas, then unconventional shale, then some suggested 2000 or even 3000 feet of gas, and comparisons started to karoon, etc.

Then the delayed announcement and the trading yesterday suggested something was not right, I am sensing not much to be found in the main target. IMHO

so what now? drill horizontals, stimulate the well, bla bal bla. and how many months or even years will that take ? if ever ?

I am not saying this is a duster by any means, but it is not the great gas discovery of the decade as some made it to be. this is going to take a hell lot of time before solid results are out, good only for someone who can wait.

And then you read all the gloom and doom about the big correction coming or even a crash, who would want to get caught holding the baby?

I have learnt my lesson and i stay clear out of oil and gas plays, money to be made else where, maybe less reward, but less risk as well.

I guess i will be attacked from all angles and comments like "why posting while you not holding the stock" , "you want cheap shares" etc. will not be in short supply. but i have the right to post my opinion regardless, this is a free forum.

I also like to give someone new to this type of game the benefit of my own experience even it is not much.

IMHO if you are new, stay out of oil and gas all together unless you want to lose your hard earned or wait for solid results first and accept less reward of course.

The price tanked today for a reason, was that reason known yesterday to some and that is why there was selling?

Take Care!