Discoveries

Discoveries are extremely important announcements for any small prospecting stocks.  For SIR, it has been a phenomenal rise with hits after hits.  However, for me, you won't know when it ends and you could be the last one in.  I prefer to buy stocks with great prospect before others find out or where the discovery has been announced AND the share price then drifts downwards for no obvious reason or where the share price has not risen much to reflect the success.

MAT has been wonderful for me but only recently.  I didn't buy it last year because it was near to SIR's tenement.  Now I am onto 40% profit (bought in March 2011) and if the impending drilling discovers an extension from SIR's super Nova deposit, then this stock will go ballistic as well.

Other than O&G explorers, the one I am waiting with baited breath is GTE's tenement next to SFR.  The initial survey has shown a possibly bigger deposit than SFR's.  But instead, it went to Kazakhstan and discovered a rich mineral deposit which the market is not too interested in except on the few days when announcements are made.

Shale gas exploration has not really blasted off in Australia.  Yet the amount of hydrocarbon present is supposed to be huge.  I have positioned myself very well here.  Most have gone positive but there are still a few laggards like STO, BKP, MMR, KAR, MEO and ICN.  A few overseas O&G ones are still underwater like RIA, CEL, OEL, ROC, NGE, FAR (sold) and NDO.  However, I can say that OSH which is one of my early stocks, is now doing well in PNG and now bigger in value for me than WPL, BHP or RIO.