2011 is the year for LFDWe have a lot of activities lined up this year after 3 years of preparation from asset acquisition to seismic data acquisition. So this year would be a deciding year for LFD as a business going concern.
I am invested because I believe that we have oil there. Very good quality 41 API oil with low sulphur. Saddam had plans to develop the discovered field as per Sterling Energy public filing in UK. Genel, their partner stated that the field contains 3 billion barrels and is commercial. LFD claims that it has 2 billion oil in place (P10) and with 132 million barrels recoverable (P50). Sterling called the chia resources RESERVE with size of 40 to 154 million barrels. The field is shallow and can be drilled and completed in less than 120 days. Deeper formations in the cretaceous has oil and gas bearing formations in the Sharinash, Aalaji & Kometan formations.
So we are waiting on management to work the land and excute their business plan. I invest in companies that can return 3000% or more! LFD fits that profile.....................Every weeakness in share price is simply a buying opportunity for an astitute investor.