sweepstake, page-7

I've been lurking in and out of Uncle Geoff's stocks for 9 years. I think I may be one of the few that have snuck away with some profits. Anyone here remember the ZaneGrey well in early 05?. A broker called me up to bid me for my BAS stock (yes, lots of them) on the Friday at 52c. Following the announcement of "Indications", I gave him the lot. The following week, they plugged it.

Every 2-3 years, he does provide great exposure to some interesting offshore wells. The leverage is bigger than most we'll see for several reasons but a key one is what I call The 'Geoff equity discount'. Patterson's was the last broker to have any interest but they 'agreed to disagree' in 06 and wont go near GA and thats why he does all his own underwriting. O&G is such a tough world, especially for juniors; buy God, its nearly impossible when you slam the equity door shut.

But GA's traded more acreage than BHP (and probably for longer! Lol!) so the equity markets were never a main part of his game and probably have been more of a nuisance.

So here we are, under the shadow of GA's 72.8% shareholding. How he feels about us is probably akin to how the Queen feels about public visitors to Buckingham Palace! Which is precisely the reasons why the instos steer clear.

Its been nearly 10 years since his last public coy drill success (Moby #1 '04) so we're due. This time I really think Winchester and the Taranaki are looking great chances.

I like round numbers...I'll take the 100c chip if its still available.

Cheers,