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Strategies & Market Trends : Ride the Tiger with CD
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To: cessnastreet who wrote (292370)12/25/2021 2:03:20 PM
From: LoneClone   of 312889
 
What is amazing about OYL's chart is that the most recent PR mentioned that the first target core looked good but that it would cost millions more to complete the hole and reach the other prospects, money they don't have. I assume they will give up more of the asset to FEC to cover the bills. (FEC already owns over 75% of OYL and one third of each of the two leases.)

And there is another spud to come next year.

OYL is the perfect example of why microcaps should not be involved in expensive ventures like offshore wildcats. They have to raise so much capital to participate that even when the wells hit shareholders have been massively diluted.

I am continuing to hold my very underwater OYL shares but may ditch them on any spike if the drill results are positive.

LC
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