RE: Speechless19 Dec 2023 05:01
Bob, of course we all try to invest in companies with more positives than negatives. But as a result, we often suffer from confirmation bias, so we ignore the people who warn us of false positives & false prophets. Back in the early OPL226 days a number of Canadian investors who had been burned by Arthur's previous catastrophes, had given their warnings but they were ignored & often shouted down. Simple reality they were 100% right & Arthur's disastrous history was about to repeat itself - again & again & again - causing massive losses to ordinary trusting investors, just like before.
It all comes down to the catastrophic monster Arthur Millholland. He drew people in by promising vast riches from unique opportunities (OPL226, the JV on the biggest find in recent US history etc etc), that in truth were exaggerated not 10x but more like 100x. Far from being 'The Great Oilman' of self promoted myth, he was in fact an unmitigated disaster who did virtually everything wrong - and not just 'wrong' but 'catastrophically wrong'.
Take for instance the controversial Tom Winnifrith - someone I dont know or follow or 'support' - he issued a warning what some 18 months ago when the share price was around 25p, that COPL was heading over the cliff, & Arthur responded in his characteristic immature, infantile fashion. As of yesterday's close, the reality is that Winnifrith was 100% correct & if you had sold then you would have 25x the capital you now own. If you stuck with 'The Great Oilman' your capital is now worth 4% of what it was then. All to often, the message has been ignored & all the venom has been directed at the messenger, rather than the sole individual responsible for this disaster - the catastrophic incompetent Arthur Millholland.
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