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Gold/Mining/Energy : Ultra Petroleum (UPL)
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To: gordon who wrote (4499)11/10/1999 10:11:00 AM
From: Hickory  Read Replies (2) of 4851
 
Gordon,

"Who wants UP at these prices?"

Anyone who has some fun money that they are willing to put on a co. that has an outside chance of hitting it big somewhere on its extensive acreage.

Watford, at least, saw this as an opportunity. I don't think he would have taken THIS job if he hadn't thought there was a chance of hitting it big.

Of course, the operative word is "CHANCE." If it were "highly likely" or "for sure," we wouldn't be able to touch this for $10.

The people who are buying here presumably are willing to risk losing it all for the chance to possibly make it big. And they are WILLING TO WAIT.

You got out without much of a loss. Now you can put your money to work on something where you can see profits in less than 3-5 years. Of course the profits might not be in the same percentage that they might be if you left your money in UP, but at least you wouldn't have to wait forever to see your money grow (hopefully).

Regards,

Hickory
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