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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: energyplay who wrote (53524)9/19/2004 7:54:20 PM
From: Seeker of Truth  Read Replies (1) of 74559
 
Hello EnergyPlay,
Thanks for your eagerness to commend me but actually I didn't advocate the strategy of investing in tiny companies with wells in exotic locations. I'm under the perhaps totally wrong impression that finding oil is one vastly complicated business and many different technologies are required. Many different experts must be hired etc. Therefore the odds are stacked against the small company in such a business. I may be totally wrong but that's my impression. My reason for not investing in the US is that I loathe Bush & Co. and refuse to get in the same pen as they are. My reason for not talking about investing in Canadian oil companies is that I am already fully laden with CNQ, PEY.UN, AE.UN, PMT.UN, ES.TO, Vet.Un, HTE.UN etc. These are often discussed topics. So I have been buying Russian oil companies which I sold, scared of the political scene, STO
which turned out to be fine, LUPE.ST which turns out to be just so so. The point is we should be able to assure ourselves that past gains have a good chance of continuing.
I don't know how you do that with a tiny company that has a brief record of profitability.
I was just joking about that Hungarian oil company. All it is is a name with past prices. Not enough data.
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