RE: RE: RE: Chance of success Jog
What I mean is this, EOG is taking no risks for at least a year or two. EOG is financed and has an excellent partner for 3D acquisition and processing. HRT, Chariot and Repsol will all drill in the next 18 months, between 5 and 7 drills..probably about $400 million worth of investment.
EOG quietly gets on with its work progressing its vast and highly prospective acreage for minimum expenditure and minimal risk. We gain exposure and knowledge on everyone elses vast expense and risk. If anyone strikes oil there will be a massive upside but if they miss we get minimum downside and all the potential upside of the follow on drills.
I call it a sideways play.
FWIW I think we will team up with some of the other juniors to share resources for the seismic campaign. Azimuth has taken stakes in several of the juniors in the region. Also PCL is looking to do a farm out for its 3D and I bet they do a deal with Azimuth. It makes sense and will save everyone a lot of money.
Has anyone got access for true trades on EOG because my two purchases this week have not shown up here or on google finance? Does anyone have a link to an accurate trades website?