Scam Stock - lolA scam stock? You can only laugh. A scam is a lie. And as anyone knows, a lie only works if you keep the circle of people in the know small. And it only works for a short time.
1) if it was a scam, the insiders must be in the darkk, because they would would have been selling all along after a massive price increase. No sign of insider selling, actually the opposite.
2) The third party companies would have to know that theri reputation would crater once the truth got out that they were saying there was oil and gas, but in fact there was none. Seems laughable to be me.
3) But here is the kicker. If it was a scam, the government of Namibia would have to be in on it. This is totally laughable. The government only makes money when they start selling oil. The scam rewards are peanuts. Further, they want to attract ianvestment in their country, and if it turns out that they are scam artists, no one would do that. And they know this.
A scam. Give me a break.
They had a plan for exploration. 3 wells and seismic. But something changed. Becuase now the plan is two wells + seismic and then a producing well. And this plan has the RECAF, the thrid party and the governement all in support. The seismic will be done about Nov 1, then with all the data in hand they will pick a spot for a producing well, and start drilling in the end of Dec. They should have results by Feb. I think they have gone all in on this strategy and well. Will be fun to follow and watch. Count me in.