O&G

The success rate is poor but the promises are mouth-watering. And if successful at finding a sizeable deposit, then one success can cover many losses.

I have umpteen O&G explorers. Not about female anatomy.

Of all the prospects, I hold the greatest hope of success with RRSO. My RRSO has already gone up 275%... but I am expecting more. If it does find the billions of barrel of oil in Georgia, then this will be a household name in Oz. Of course, that is over-optimism.

The others are crazy for foolhardy and brave investors: ERH and KAR (Brazil near Petrobra's finding), FAR off Senegal, PCL off Kenya, RIA off Ghana, ROC off Angola, COE off Tunisia, TPT off Morocco, NEN off Vietnam and then BPT, BOW, BUL, AMU (suspended), CTP, SGY, STO, MPO, MEG SSN, BKP, CHN and OBL looking for CSG or shale gas. The CEOs are all very enthuasiastic and optimistic but very few, perhaps none, will be successful. I am a calculated gambler, waiting patiently. PSA, ROC and VIL are big losses for me and perhaps, I should have sold off AWE a long time ago (failures after failures, like ROC, CTP, PSA, VIL and MEO). I still hold hope for MMR but it is jaded.