Greetings Andy, i was and remain a realist where PEP11 is...

Greetings Andy, i was and remain a realist where PEP11 is concerned. I had just started trading when MMR took off from below 10 cents……I thought i was a genius buying and selling at 14 and 18 cents respectively only to watch it go to 80 cents. I didn't begin buying back in until the mid 30's but didn't have anywhere near your capital in the project. The most i had pre drill from memory was 100k MMR's and 50K GBA's…..Buggered my exit up but threw 90% of both in at around 95 cents for MMR but the low liquidity in GBA caught my out when the herd turned and got most of them out around the low 50's.

The duster was disappointing but i've always respected what Breezy achieved as i'm sure you'll recall, there was a heap of political pressure lead by Deb O'neill at the time.

I recall Bruce being a real character and lead the way with the combined PEP11 thread……Remember how hard it was keeping up with the 4 stocks with their various stakes. I do admit to having some extra bits and pieces of info though (Re: Rig itinerary and the like), i never let on at the time but my background is in aircraft maintenance and a friend was part of the chopper team (Emergency response) which escorted the Ocean Patriot up the coast.

Hindsight of course but i wish i had more trading experience at the time because during the lead up when every other day, there'd be a negative article written and published in Robertson which the market would react negatively to, i came across Parliament question time minutes on a website called Openaustralia where Martin Ferguson gave advent a wrap and forcefully made it clear that PEP11 had to be drilled. Within 2 or 3 minutes of posting it on Hotcopper, the market went wild. I had no idea until that day how influential, Hotcopper could be.

The Pooled Development status of MMR will always drive it beyond reason when a sufficiently large carrot is dangled but agree with you whole heartedly, the chance of success is extremely low and must be traded accordingly.

All the best Andy!