GREY:ENGFF - Post by User
Post by
shleevoon May 30, 2008 2:33pm
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Post# 15128356
Fundamentals haven't changed
Fundamentals haven't changedIf you think it's a duster, cut your losses and run. In my opinion the fundamentals haven't changed. No reason to sell unless they change. There's still the same opportunity for success as there was when the stock was trading at $4. If you believed in this play when you bought at $3 nothing has changed since then. These plays are extremely volatile.
Check the history of OILEXCO for a lesson. The same thing happend with that play. I was buying shares at $1.50 and they had confirmed OIL and were doing assays for reserve estimates. People were contstantly manipulating and jacking SP up and down. OIL sells for $15.00+ today.
I don't know if buying at $3+ was a smart thing to do, but this is a golden opportunity for anyone who believes in this play. Cheap shares today and hoping for even cheaper next week. Sorry for those who paid a lot more, but I'm loving these prices right now.
My opiniton on Tight hole. It's very common for companies to use this term when drilling. They're not going to give you the "play by play". If they hit oil, you'll probably know before they can even release it, count on it. The Namibian gov can stay tight lipped for as long as they want, but the SP won't wait entirely for the their official news.
GLTA