As a previous holder I have with some trepidation stepped up to...

As a previous holder I have with some trepidation stepped up to the plate once again , it's very much a spec stock with considerable risk and I will treat it as such and as I don't dwell on the past will treat this as a new Company starting from scratch with some de risked assets and enjoy regardless...

The attractions are the very fact it has survived the carnage and still has control over plenty of land, no debt, low MC relative to potential upside, conventional drilling, oil looking like a good longterm bet, drilling costs have been slashed, technology marches on and it has some income however none of this is much value if it can't make money....from what Management hopefully has learned from the last 2 years we have the potential to get some traction here...dillution is always a killer in small caps and will be the main concern IMO.

It's easy to bash Management from previous mistakes but the whole shale industry was built on hype and investor speculation, many Companies and many punters simply got expectations wrong and blame can largely be spread amongst all of us, there is considerable risk in these types of stocks and it needs to be accepted, even well managed Companies have struggled...

The Company is now run by survivers and is a much leaner outfit and only time will tell if they are any wiser and its up to punters to decide if they themselves are any wiser.

Many of us remember the previous "Gusher" that was basically never heard of again, this time they have green oil dripping from the drill stem but I do expect to hear more about this one although I caution those who get excited by the large gross oil column, the net oil column and the eventual flow rate are the only thing that matter and as yet we don't know what that is but these are certainly cheap wells to drill so limits the risk considerably..will watch this "new" Company with interest.

Cheers Whisky