Headed back up, page-90

Absolutely @Clear air !!!

Yesterday saw a very interesting conversation about Patience and Timing and Value...

@insaf

"Buffett is "conservative" investor where he buys into the the business and protects himself within the business and by being in the inner sanctum."

Today @OMEGA MAN posted this example;

"Here's one example off the top of my head, showing that "Warren Buffett" does indeed buy speculative stocks, that are not making any money, or paying a dividend, and it is an ASX listed stock (IPB Petroleum)


http://www.*.com.au/genera//img/companies/news/asx2_350_51819d87a84bc.jpg

IPB Petroleum (ASX: IPB) has received a substantial shareholder notice from PGS Australia, an existing shareholder of the company.

The international oilfield services provider, which seismic and electromagnetic acquisition and processing services, holds 8.2 million shares, or 8.3%, in IPB.

IPB started trading on the ASX yesterday, offering investors exposure to two highly prospective offshore Browse Basin oil and gas tenements.

Notably, the first well on its Pryderi oil prospect in WA-424-P is fully funded by farm-in partner CalEnergy, a fully-owned subsidiary of Berkshire Hathaway’s MidAmerican Energy Holdings Company.

This targets mean recoverable prospective resource of 40 million barrels and has an overall 45% chance of success.

IPB has $3.1 million in cash at hand.

Cheers Omega"

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We can, to a certain Degree, calculate What will happen and Why MRF and that is looking very very good in my opinion.


Could be 100 percent wrong though! DYOR !!!!




Kind Regards