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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (244420)	8/1/2005 1:43:06 PM
From: Elroy	Respond to of 1576893

I'm heavy into oil so I always follow up when someone spouts off about an exploration company. What evidence do you have that they are finding anything? I'm game to buy some. Are you in Australia? They just finished their fiscal year in June and doubled production over the previous year. I assume that's because they found some!? They forecast about a 5% increase in production in the 2006 fiscal year, or more if they find more. I just printed out their 2005 annual report at work today. I'm home now, check it out yourself if you want. stuartpetroleum.com.au I don't live in Australia. I bought the shares because a college friend worked his first job at Schlumberger 15 years ago, and one of the people from his starting class (or whatever they are called) is one of the eleven people in the company, and based on his recommendation bought it. It's a departure for me from tech, so I don't know a hell of a lot more about it than that. If you read the report and have a view I'd be interested in hearing what you think. At the very least if they get flat production this year results should be better than F2005 since they sold forward their oil last year at crap prices, and a portion of that forward sell commitment goes away in the current year.