I stopped reading about the decline in oil price around $80. And what I was reading at the time, led me to the conspiracy theories. (a la Zero Hedge). As in the market was being manipulated to hurt domestic producers or the fracking industry. Let the Saudis drill and pump, flood the market for the sake of the green agenda in the US. (simplified), things they don't for my permission on.
But, I really don't know anything but what I read. I tuned it out and now we are + or - $50. And a lot of world events/situations have come and passed, even since $80. Who would have thought we would ever see $50 oil again?
For PetroRio, it is exciting times albeit tis a different company than I originally invested in. You take your chances when investing. I don't have a problem with that. I have renewed confidence in management and that it will rise one day as we triple our production at home and other things. I have it on the side burner now. Not worth enough for divestiture (1 lotto ticket)
In Namibia, I kind of hope we keep a small stake somehow in the negotiations, one Lotto ticket instead of a fistful. In going from a major player there to 0%, it possibly may be the only way out. Wasn't there supposed to be drilling by someone else there this year? I don't know how other exploratory companies are faring in this market, even if they strike oil. Char? and others.
Drilla I hope you have a continued interest here and good luck with your investing. Excellent post to keep us apprised.
That's all I got
GLA
AI
