Razor,
I would be less than honest if I didn't admit that all the events of late have made me question the circumstances.
However, it is still too easy to assume the worst. I still have trust in management. That is not to say they don't make mistakes.
Not knowing what they know about Islero, I cannot question their decision to sidetrack again. From my viewpoint, and with the information I have seen, it would appear that it was time to fold this hand, and drill a new hole at a different location. I have to believe that Harken had information that precluded that kind of decision, and thus, they drill ahead.
What you are seeing now is "sour grapes frustration" and incredibly ironic timing of events. I understand the frustration. I have been in this stock for longer than most. As for me, I am seeing a very unique buying opportunity. Even Zeev is getting ready to pounce.
Another point that continues to baffle me, is how much importance is being placed on this Islero well. If it is a dry hole, it will not be HEC's Waterloo. I predicted the importance of this well would foreshadow any logic if the well were a DH. The "herd" mentality of some of those playing HEC shows a lack of sophistication in regard to the oil industry E & P stocks.
So frustration runs rampant, and that's as it should be. Those that bail out do the right thing. Those that stay do the right thing too. This isn't a fun business to be in at the present, but it will be fun again....someday!!
Keep Smilin'
Rod |
