Well, William, it has been more than two years since I bought
in at $3, and last I checked they haven't hit Jack-diddley-ass-squat.
(I think their last well had some 'shows' but nothing economic.)
When I bought in, it was suggested to me that this could hit
the teens, with a lot of risk, of course. I am still holding on,
since a good strike will make this stock soar. But oil drilling
is by its very nature risky business, so recognize the risk
before you invest.
It certainly does show some cyclic volatility, having
fluctuated between $0.50 and just >$1 periodically. I think
their book value is on the order of $0.45 or so (don't hold
me to the fire on that one!), so it should have some reasonable
level of support down there.
I am kicking myself for the umpteenth time for not buying a
bunch of shares at 1/2 and averaging down. I guess I have been burned by
too many low-priced stocks such that I have lost the stomach for it.
Good luck, and let us (me?) know if you decide to jump in...
Misery sure likes a good dose of company!
-Martin |
