Where we go from here....
I might be out of line here but I actually think millionvester anticipated the market very well & I tip my hat to him ....
However the Japan effect no doubt was not exactly what he was forecasting as the reason to drive stocks lower , he still predicted correctly the market retraction so give him his dues.
I bought at 29 cents so could have sold at a nice profit on it's spike but decided to stay the course as after commision fees once i sold, then looking at other stocks or sitting in cash I decided to stay firm to my long term view on this stock.
To put in context the middle east is now at a cross roads ....do they sit and wait for the revolution to happen i.e tunisia , eygypt or fight like libya ( Gaddafi now close to gaining control back) . Saudi , Bahrain etc are now using force to quash any revolutionary threat. Personally I'm in favour of this , the faster the military & government get a foot hold the better as enough is enough. I'm not in favour of gaddafi or pro or anti middle east but we need stability if Iraq / Kurdistan is going to survive in a democratic society.
Back to Sonoro , nothing has changed fundamentally to this stock, it still has what I believe exceptional land rights to the sweetest area of oil in iraq. I believe they have already identified a million to billion possible find as lets not forget the massive bijiel oil refinery in Sal ad din. Oil is there being pumped out as we speak ....
Discoveries have been few and far between as Saddam failed to invest in oil exploration or bring in companies to evaluate the potential. All we hear is that there could be an additional 45 -60 billion barrels of oil yet to be unearthed.
Why do you think we event went to War in iraq ....does anyone really believe it was for Weapons Of mass destruction ....it was for Oil folks ....open your eyes !
& we have formed parterships with the governace of Saladin ......so do you really think they are going to point us to a dry well when they have 30% share in the business.
Example DNO first to arrive in Kurdistan ...small norwegian company with a very good relationship with the KRG .Guess what the first hole they drilled in Tawke was ? yes a gusher ...
Keep the faith ...
buzz