GREY:ROAOF - Post by User
Comment by
Kel2on Nov 02, 2004 11:07am
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Post# 8122218
RE: Art Himself
RE: Art HimselfYou guys continue to amaze me. There is no one to blame here. The company is involved in exploration drilling and in the N. Sea to boot where the geology is tricky to say the least. Exploration wells have a 10% chance of success. They missed. That's too bad for those of us who hold stock but that's the way it goes. This is not anyone's fault.
You need to look at the positive. There are wells already drilled that will provide cash flow, assuming that the financing can be put in place with the banks, and one more well to drill that will hopefully add to reserves.
If there is anyone to blame for your current situation it is yours for not understanding the risks completely and reducing it accordingly when the stock was higher. If you can't stand the risk of exploration and the results of failure get out.