Club Mulgoa

Tuesday, September 11, 2012

PCL

How volatile the share price!  The first drill hole is not enough to make a decision on whether the gas deposit is commercially viable.  When the secondary targets were reached, there was no further hydrocarbons to be found.  Hence, some big investors dumped their holdings.  I had a buy at 20.5c but it was sold to me for 12c.  The next time PCL moves a lot, it will either because of another empty hole or it has found oil.

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