Ann: SGC: Dempsey Well Testing Update, page-38

Lucky,

Your last post says it all. You actually only physically 'lose' or 'gain' when you sell shares, not when the price changes!

This well is exploring a substantial new discovery. These events don't happen often anymore, considering oil/gas exploration in the USA has been happening for over 100 years.

This is a deep well and things just take time. We have a workover rig/crew working pretty standard hours, 5 days a week. Given everything reported to date, things are going extremely well, and totally typical for anyone who knows anything about drilling/completions/permits/jv's/land grabs

Based on the potential of this new discovery XST looks undervalued compared to its peers. However, XST is embroiled in litigation and has limited cash. This makes XST somewhat vulnerable to market manipulation, and corporate hostility.

A rule I try to follow when investing in these types of plays is to put my money in the partner with the most cash in the bank.

all imo