Richard Slape was for many years a respected oil and gas analyst in the AIM market and now works for himself as a consultant at Hopeton Petroleum. Latterly he was in charge of Business Development at Rockhopper and on the board at Lansdowne Oil and Gas.
Richard’s speaking topic was a broad one: What has he learned about oil and gas investing over his 30 year career? Well he didn’t disappoint.
His hard earned advice was to:
1. Work just as hard at avoiding losers as finding winners
2. Don’t use Pmean but focus on the P50 number
3. Don’t follow geological chances of success but look for the (lower) commercial chance of success.
4. Getting to know and trust management is critical as companies are often designed in the image of the CEO.
5. And pay particular attention to risk as companies tend to downplay the risk aspects of a project.
