MAUXF: Best of luck.
The number one rule of investing is...........Dont lose money.
The second rule of investing is........If the reason you bought the stock no longer applies, sell.
I am out for those two reasons.
The risk/reward equation changed with the Shell news in addition to the 30% pipeline losses of late.
Now that the Shell pipeline is closed, it is reasonable to conclude that the theft will now intensify on the AGIP line that carries MAUXF product.
Also, regardless of who actually owns the claim that MAUXF is working, the MAUXF 50% working interest in the claim is now in danger as news reports clearly indicate.
The fact that Shell is pulling out bodes quite ill for the entire Niger Delta operations by non-Nigerians.
I wish the investors well here and am not about to waste my time bashing an investment I do not now own, am not about to buy back anytime soon and am not short.
Basically, after two years or so of owning this stock I broke even on my core (including divis) and made a nice hit (in and out numerous times) on my trading shares.
I hope for good news for MAUXF and the investors still holding do well going forward.
