no real damage, page-4

oscarWon
Probably get "flamed & roasted" for saying the following. Everyone oooohed and aaaahed about the Petrobras deal. One point kept niggling me. Why was there not a designated rig, rather than one borrowed in between wells, that was committing to drilling the Browse Basin like Swiss cheese, obviously within reason, say, 3 holes? Why was PB drilling one well with the option to move on? Are they serious about moving on? Or will MEO string along the SH in it's own good time to announce these answers, answers it probably already knows? The "do gooders" will tell me that MEO management has more pressing issues than to hold the SH hand- like what?, not as if they have any income producing assets to run on a day to day basis. MEO is just like any other company on the ASX, only announces regulatory issues. I wonder if Wednesday will see it's weekly update, elaboration on the Black & Decker, the A1 dust buster.

You are correct. These O & G are too risky, or should I say, too sophisticated for us. I did the same mistake as you at times. I did day trade it a few times but too many times I held. The two 'highly leveraged' stocks should have been treated for what they were- a highly volatile DT stock. If they hit the gas then it's better to pay more and make money than what has eventuated. It is obvious that MOG & MEO have squat infront of them. The SH will be in an eternal cycle of CR. How will MOG pay for it's share of a second drill? Through your pockets. Even CUE has to dig deep! MEO is only intent on looking after it's own interests, the CR proved that. And the poor suckers who hold 52c stock, oops, 20c stock!

Both companies will be pumped and dumped for a couple of weeks and then liquidity will dry up and the bots move on. Seen it too many times with better companies! I agree OS, try the companies drilling on terra ferma. Funnily, one of trios Top 20 is highly successful.

Any way, good luck to you OS and all that have been spell bound by the Jurgen Sol�.