Staoil is My favourite ...Drlling baby DrillAnd they have Decided to Explore the Georgina Basins 14 Million Acres. Statoil is Making its decision to Explore Austarlia for a Reason. They know the dedication required to Explore for oil . They have a Vision of what it requires. Drilling a few wells and they deciding to pack it in and abandoning an entire Continent doesn't resonate with me ....it's NOT their style. They have an Option to Drill up to 17 wells up to 2017 with an 80% piece of the Pie......it favours them to continue scaling it their exploration in small stages as they have been. Common sense Dictates Drilling a mere 5 wells within a 14 Million acre boundary ...constitutes a drop in the Bucket in terms ....literally. Can't expect anyone to hit it Big on just scratching the Drlling surface so to speak. I am sure Statoil realizes the Scope of what is in front of them when planning to explore Australia for oil. The know it is not going to be easy.....yes Staoil brings an Amazing skill set with them....but they need to Punch Ground to put that skillset to Work. There are so Many Large Oil companies converging onto the Area with a Massive Combined drilling comittment $$ wise. This is the time and place for this basin to be explored...and Discoveries Result from that said exploration. Oil wells just don't sprout up on their own you know.
That being said I purchased a few hundred thousand shares Friday under weak market conditions as an insurance Policy.....my take is that Statoil has a vision of what it wants to accomplish.....they know they have to crawl before they can walk....and that they have to walk before they can run.....they are Pro's at this Oil exploration game, IMO the entire terms of their FarmIn agreement favours them. pFC is just in it for 20% of the ride. ....a Potentially very lucrative ride.....and it gets better for anyone wanting to take a risk at this juncture looking forward like I did Friday. I feel I am getting paid already...I have an International oil giant with Fracking expertise with a $30 Million drilling Option in front of them on a company trading well under its $0.085 cash per share balance.
As far as Friday's trading Goes it was a gift to be there in the Market. Exceptional to be able to Buy shares at such a rare discount to cash....with all the potential going forward. The market sentiment in general was more to blame in my opinion for the sp performance Friday...it had plenty to do with it...just look at a chart of the cdnx...and selling was exasperated by that....the Rebound here moving forward will be exciting. It will just be recuperation for those holders at higher levels...but from the perspective of new Holders that were more than happy to take shares off the hands of those selling senselessly Friday.....it should be very lucrative going forward. Next 120 days is going to be froth with speculation....the day Staoil announces it plans to continue with phase 2B ....that is when my insurance policy pays out x 5 the price I paid for these shares Friday.
Happy speculating from these levels Folks !