What Price is RIGHT!!!!Hello Everyone:
We are now at 6 cents, down from high of 46 cents in January 2011, or a whopping 86% severe correction.
I have been in various stocks, some due the internet mania phase where corrections of 75% were the norm.
The lack of interest in the stock has to do with the lack of clarity on drilling. Management will have a bullish update in October 2011. Watch as funding is a non-issue. They will not walk away from PSC contract leaving an $ 80 billion asset when their partner Genel has $ 2.2 billion in the bank and can easily finance $ 20 million for the drill.
The cost per Genel for extracting and delivery the oil is $ 7 per barrel. Even at $ 75 per barrel of oil, you still have a profit of $ 67 per barrel for the consortium. This is huge money.
I predict that a deal will be announced along the lines of: Genel will carry drilling cost of LFD in exchange for 12% of its oil revenue. Drill starts imminently once press release is issued.
Yes, I have been wrong from Janaury 2011 to now, however I will be RIGHT from October 2011 to the future.
When we hit DOUBLE DIGITS, the bashers will never come away saying that Taxdemicco was right all along.
Am I incorrect, or are you just impatient? Wait them out!!!!
SMART INVESTORS ARE LOADING UP AS WE SPEAK, WHY PAY DOUBLE DIGITS WHEN YOU CAN ACQUIRE A BOATLOAD AT 6 CENTS.
JMHO