Hi Cujo Point taken.
Hi Bruce and all,
You can have whatever opinion of me you wish and I agree if you are nimble you may still be able to make money with the PEP 11 scam.
If it’s goes as normal they will be great hype about the various new technical interpretations of the past data etc. Calls of (possible) 75% of success in any drilling. Great technical discussions and then decision on the best site to drill. The greenies and tree huggers will appear on TV telling about the wonderful pristine area and how drilling will damage the earth and not wanting an oil or gas field in their back yard. The political big guns will be brought in with talk of lots of new jobs for the area. (Always a popular winner that one.) A drilling contractor will be appointed and a date given for the drill rig to be on site. Then there will be delays in getting the rig to site before eventually starting to drill; however, the hype will be maintained. As investors are suckered in due to the hype and the share price creeps up there will be a capital raising to cover the costs of further future drilling. In amongst all that I nearly forgot there will be reports of visible gas / oil leaks on the water surface of the lease.
Here’s what to expect when the hype crescendos and Ocean Patriot or some other rig finally arrives on site:
http://www.abnnewswire.net/press/en...triot_Drill_Rig_Under_Tow_To_PEP_11_Well.html
You may well ask if they drilled and missed in 2010 and were absolutely sure the gas /oil was there (75% chance of success and all) why not keep the rig on station particularly after the battled so hard to get it there in the first place. Watch out for this notice around 2016 I guess with the dates changed.
http://mecresources.com.au/ASX MMR Advent Contracts Drilling Rig 19.04.10.pdf
Eventually they will drill a hole and find a duster with some tantalizing small gas or carbon shows reported requiring more investor capital and further work.
May I suggest that you print out this post and pin it up on your office wall for future reference.
Of course in the midst of all that there will indeed be an opportunity for you to make yourself a pot full of money just don’t forget to get out just in time.
As for me I won’t be putting a single cent into this but for those with no shame or integrity as I say fill your boots!
By the way that I promise is my last word on the subject I have better ways to spend my time but did feel compelled to suggest that full and due diligence be completed by all on this one.
Cheers and very best regards: Andy
