Understanding the Risks30 Nov 2021 08:05
Ive held 88 shares for a long time but like many here ive sold the vast majority in panic mode over the years and thats my fault ,im ok with that because l fully understand the risks. Ive since invested in safer stuff and got good returns so alls well that ends well... There seems to be a pattern here a bit like the song "Circle of life" from the lion king only this is an annual cycle. Drilling , Glossy reports, Cash raise, repeat, The Prospects for the company seem bright at the moment... you read these glossy reports and think... Wow this is fabulous stuff an amazing investment, billions of barrels due to 88 anyone can see this is a winner....Im sure all the prospectors from all the top oil companies have also read 88 reports but there is no mention in the glossy reports of take over bids, Tier 1 farm outs etc....Premier Oil packed up and left on the last day of the drill, didnt even turn the lights off on the way out.... People here are talking about "Spikes" as a way of making money, thats lottery ticket stuff...If the oil is "SEEN" to be commercial then someone will buy it... The fact that we have good oil that is now proven under our land is not enough.... Maybe this will be the drill that brings home the bacon only time will tell