OTCPK:OTTEF - Post by User
Post by
CarefulEyeon Jan 28, 2003 9:06pm
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Post# 5812717
Hold your pants up
Hold your pants upI've owned this POS for three years and have lost, so far, over $100,000. I accept full responsibility for my losses. At the same time, however, I have every right to criticize the direction this company is taking -- without being accused of "bashing." I agree with petunia that the LA proven reserves should have been a priority (a "no-brainer" IMO), because if their cash flows had become available, everything else (more wells on line / exploratory plays) would have become affordable. Instead, the company is living on borrowed money, banking on a "hit" on PEI, and in danger of bankruptcy. If a few LA wells were flowing today -- that is, if the company had directed their capital to getting proven reserves to the bank, instead of engaging in speculation, we'd all be better off now. A few days ago I owned 135,000 shares of OEL; I now own 60,000. Frankly, I've lost confidence. Bonne chance.