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Woody - 3rd bullet point down on first page of update. Bottom of page 2, onto page 3 then explains in more detail about the wells, plans for completion at a cost of only US$600,000 each. Then Arthur’s comments at the bottom of page 3 explains how Atomic missed the data provided by the previous owners
So Atomic:
A) missed the files of data outlining oil shows and detailing a low risk opportunity to materially increase oil production by the completion of six wells at CC
B) Missed discovering the Deeps 1 billion+ barrels of oil, altogether
What else have they missed?
Arthur, it would appear is a far better exploration oil man than most “experts” on here give him credit for.
OK. I’ve just looked up that last one and it’s not how I interpreted the meaning! I interpreted it to mean someone who is moving in a clear, focused and productive direction remains free of becoming bogged down unlike those remaining static. It actually means the opposite! Doh!
Excellent post again Stas! Exactly what we need to focus on. Speculate to accumulate. Rome wasn’t built in a day. All good things come to those who wait and any other cliché fitting of what we have here. One for our CEO “A rolling stone gathers no moss”
Also to bare in mind is how many years ago this all happened, what changes have occurred with regards the geopolitical situation of the world and resultant cost/price and demand of the abundant resources we have. A lot of changes that disregard what went before
The bigger question is why did these investors lose money that then allowed AM to get cheap shares? Why is anyone able to buy cheap shares from investors that have lost money? Quite simply, because they sold out. A decision they made for whatever reason. They made that decision to sell out and lose money. They transferred money from the impatient to the patient. End of!
Wwal - My thoughts exactly. Especially working in the NS. He also came up with the condensate idea. Which he said he’d used many times before when concerns were aired regarding volatility. He knows exactly what he’s doing. Just you keep doing it Art!