Hello heraclitus,My previous post was not suggesting the stock...

Hello heraclitus,

My previous post was not suggesting the stock was anything except speculative, however, I remember when it was 32c or thereabouts a few moons back. I felt that at the time they bit off more than they could chew in the North Sea as compared to some companies, they are relatively small and as such had their finances stretched.

The sp started to tumble with AED closing shop on Puffin and their problems associated with the FPSO that was used to off-take the crude.

With the "temporary" drying up of the royalties they have I feel been in consolidation mode and had a couple of cap raisings; 1.5c per share.

Since that time they have acquired the possibilities as stated in my previous post and given the results that their next door neighbours have both here and the UK; a 20% negotiated interest in EP368 & 426 and an increase in the Jingemia prospect of which they are receiving a quite reasonable percentage of sales, I consider that they have a very good portfolio.

Of course, mixed up with all this has been the GFC and recently the RSPT which has sent ripples right throughout the resource sector and I don't know how the Government can say it will be good for an individuals super funds when they have taken an immediate hit with the downturn following their ann.

Anyway, back on track.......this company as I said previously has acquired imo some excellent real estate and that is why I am happy to hold.

dmc1974

Agree that posters who no longer hold can add valuable information. They have their views which I respect and I have mine. They prefer to move on and that is their prerogative. As for me I am holding (since 2005)as I believe that in spite of the waiting, there is a better than even chance of an exciting announcement not too far away which hopefully will have a beneficial effect on the current sp.