Everybody is a Genius
So said Albert Einstein...Einstein, the genius behind the general theory of relativity and the famous equation E = mc2, invested most of his Nobel Prize money in the stock market. He ended up losing most of it when the market crashed in 1929 during the Great Depression...To invest in penny stocks, you don't need an MBA degree, you need street smarts.This is clear about AOI, I posit, seriatim as follows: (a) AOI is jumping from the frying pan into the fire with the Nigerian deal with its two original consortium partners scampering away like rats on a sinking ship. This deal has been cooking and boiling for 1 year for a reason. Now that AOI is going it alone, it will have to carry an onerous debt of $1 billion or more and it could push the Co. into insolvency just like Tullow Oil. (b) The Kenya oil discovery is now 8 years old and still no FID and the open bidding for the $1 billion cost covering the pipeline is problematical. Tullow is broke and no one seems to want Kenyan oil and getting $6.00 per barrel in the international market. (c) The Guyana project is an absolute bust and considered worthless. (d) The investment in Eco Atlantic stock is a bad decision by Keith Hill just like his Lundin investment in RB Energy that went bankrupt...AOI has been dead money for 3 years and everything is now baked and priced into the stock...Some people know from my past postings that I first recommended buying AOI a decade ago at around $1.00 and implored people to dump when it got up to $10.00. I was nearly tarred and feathered and run out of this Bullboard by some delusional bulls with their heads stuck where the light don't shine.