RE: Whats so special about Spud?30 Oct 2021 21:53
@Wyn... I think it's more about the lead up to "Spud", rather than the actual spud itself. It's a confirmation that, "Yes", this process is actually going ahead and there are no hindrances and all permits and licences are in place. The only hindrances now would be problems with the "Drill" in itself, BUT knowing that the drill is being done by a competent and experienced entity, with many a drill under their belt diminishes the chances of problems during this operation. Not to mention that it's a relatively basic & short drill.
Furthermore, in a bid to affirm chances of success, it is compounded by the "independent competent persons report" and of course as a consequence the 'C.o.S'. As already discussed, this is not an exploratory drill in terms as such, we're well aware the oil is there and not only that, but how much oil is there! Also let's not forget the quality of the oil itself!
Finally there's a psychological aspect to this drill in terms of 'FOMO'. Some, IF not all of us would like to time our adding to the haul of shares before the Market Cap starts to swell, but we each have different financial attributes, some waiting for cash from wages or other investments. I use the charts to ascertain when the tide is about to turn, others use other methods...some just basically watch trade volume increasing.
If this was a purely exploratory drill, I, personally wouldn't be so much invested tbvh, The play for HE1, I cashed out in the 27p range IIRC, purely because it was exploratory and market was losing focus on the fundamentals. My cashing out was not luck, it was researched and based on experience, the term "Once bitten, twice shy", comes to mind. For me AAOG was a massive learning curve, and boy did I learn my lesson!
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