MotivationThere should be two different chat rooms for WZR.
One should be devoted to day traders who dissect the meaning of every single trade executed, or every single breath or utterance from WZR management.
There should also be a page devoted to long-term shareholders who have an investment horizon beyond that of a fruit fly who believe in the management team and the long-term fundamentals for the company.
For the long-term investors... remember the catch phrase from day 1... "the size of the prize". If you have read "Twilight in the Desert", you will have an idea what WZR management are up to. We have all heard of the Kirkuk field. It was discovered around late 1920's if I remember correctly and was the first giant oilfield in the Middle East. Kirkuk produces to this day as we all know and has accounted for 50 - 70% of Iraq's total output for most of the past five decades and currently represents something in the order of 30% of Iraq's total output.
Quick history lesson - The Kirkuk discovery kicked off major investment and exploration across the Middle East. The success in developing this part of the world was largely in the 1940s and 1950s (Saudi Arabia's Abqaiq super-giant field was late 1940's) without seismic data and other technologies which render the WZR drilling campaign drastically less risky. I recommend you pick up a copy of the book to gain an understanding of the type of resevoirs involved here. Even though the book is clearly a "peak oil" argument... the author gives you a very thorough understanding of the geology and history of oil in the Middle East.
Long-term WZR investor fundamental #1 - we are chasing huge reservoirs with superior technology.
JG