Sorry Folks. Not the news everyone wanted to hear. I did get...

Sorry Folks. Not the news everyone wanted to hear.

I did get targeted as a down-ramper by some as my message of caution and the risks were not well received by some. I can understand getting caught up in the hype and there is always the chance of beating the odds – but it’s always important to be aware of the odds and work out whether the upside was worth the gain. I sold out at .008 and stayed out. Could have been wrong, but a success here would have been beating the odds (COS 15% - 1 in 6 change of winning).

Where to from here is really dependant on when PCL can manage a farm out of their next well? Is this 2019 or 2020? Could be more difficult now as Cormorant was touted as a location picked to give a good chance of success. I haven’t been following PCL as my eyes are firmly planted elsewhere. Until a new farm out happens I’m not expecting much to happen with the SP. Possible further dilution is on the cards as the company will need money to survive.

I’ve been in a similar position before. It took me years to recover my investment but was lucky the company I am invested in had a success.

The best of luck in your decisions whether you tough it out or look for greener pastures.

I probably won’t be back posting here unless things get interesting again.

All the best – Mr H.