Club Mulgoa

Monday, December 06, 2010

RIA, MEO and a few other O&G explorers

Wow! What a jump today for RIA! You can only conclude that there is either a 'delayed' investor or inside information. The former is okay but the latter is disgusting because it is not a level playing field.

I have invested in offshore tenements off Sydney, NW Shelf, Palawan, Gulf of Mexico, Gulf of Tonkin, Angola, Brazil, Morocco, Kenya, Ghana, Ivory Coast and Senegal. Which one comes to fruition first, I won't know. Neither would I know which will the first of my oil exploration stocks to go under.

Actually I can tell you which one is first off the block but it isn't my most profitable one yet. MEO has stopped drilling because it has hit "over-pressured" gas. Isn't that a nice description?! I have never sold off any MEO shares; in fact, I bought more when the share price fell. And if the gas turns out to be 13 TCF then the share price will explode.... or rather expand.

It is so easy to pick MEO. The company has hinted that based on their assessment, there is likely to be 13 TCF of gas. And if Petrobra enters the share registry in a big way, then you can be near certain that it would have done its homework and put lots of money into drilling the deep water. So why not join in? Is it too late now? Inshallah!

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