Hi Gannp,It was through a Sydney broker that I came into contact...

Hi Gannp,

It was through a Sydney broker that I came into contact with BPH their specialty being to give glowing reports on people and companies they understand little about.

Just to clear up one point in my previous post. I will never invest with another small medium company without meeting the executives in person. You are right it is difficult to gain prior knowledge of the people involved in a company; however, at least meeting them face to face would be a better start than an introduction from a broker with a vested interest in having me put my money into something.

Do not get me wrong this is not 100% fool proof either but as the years go by my shyster spotting hairs on my neck are growing more sensitive.

Vcubitt

I am afraid that as share holders of these companies we have little recourse to action when these companies fail to deliver. It would be nice to think we had a police force at the ASX or ASIC looking out for our interest but this is not the case.

There is enough information in the public domain on the PEP 11 debacle to present a case to ASIC but what a waste of energy that would be. Also do not forget even after all that has happened there are still true believers holding onto their stock and suggesting others should do likewise! One clown on the MMR site questioned the report that Santos used to walk away from PEP 11 he said it was nothing to do with finding gas in the Sydney basin. If this guy ever takes the time to look at that negative report he may notice that some of the slides from that report were used by our friend David to make the case for an 80% chance of finding gas!

Clearly as long as there are cashed up investors with as many active brain cells as a Guppy there remains a need for companies like this group to accommodate them.

There are plenty of other companies out there to invest in but it is just like buying a second hand car its buyer beware!

Personally I now have about seven or eight names etched onto my brain that if I ever see them connected to a particular company I avoid like the plague I doubt I need point out the last entry on that list.

Cheers: Andy