RE:RE:RE:RE:RE:RE: OilsupporterIt is a bit alarming to go away for a weekend holiday and come back to see your name in the subject line on the bullboard. So I read through them and here is my response to Good 40. I find it amusing Good40 posts like people have to justify themselves to him/her. I am here on this board to get information and updates.
I am here because I am invested in XOP, I have read the financials, and all the various research reports, I have attended the AGMS's, and I continue to think this is a good opportunity. I take a different view of the risks than Good40 on Block 13. Two of the many reasons I disagree with the 5% chance Good40 puts on block 13 are as follows - I think the new seismic technology being used by Exxon changes that risk analysis, and the fact Exxon didn't farm down their interest also suggests Exxon has more information that also changes the risk from the 5% Good40 gives it. I disagree with Good40 that Exxon throws "pocket change" of $120 million at exploration with a junior. And I think there is value to the Nigerian play, although I respect Good40 has a different view of that.
I am not here to convince anyone to buy. However, Good40, you seem to be on this board trying to scare people to sell. That makes no sense to me, unless you want to pick up that stock. BTW, I am not buying more XOP. I will be on the sell side going forward. However, I intend to make informed decisions on pricing to sell. And frankly, at $0.14, I think our downside is not zero, given the other assets that XOP has, and our chance of Block 13 proving out is better than the 5% that Good40 gives it. And I am okay with other people disagreeing with me.
I think we will get some news early in January. GLTA