euddoggwyn,
I am not saying that Russian management is “innocent souls”. “Trust but verify” is a right approach. What I was trying to say: Russia didn’t have a stock market for almost a century. People still don’t invest in stocks as a rule. They buy gold, foreign currency (less dollars more euros now) – mostly in cash, but sometimes they risk to open accounts and get some interest. Even mathematically/financially skilled and educated people have no idea about stocks, bonds, derivatives, options, warrants, etc. It’s just something outside their life experience. Of course, everything is changing now but it could take a generation (IMO). There are plenty of scams and financial crimes in Russia, definitely more than in US or Canada. But they are mostly simple and “old fashioned” – grab money and run. :) With NWOG/NDOL we saw pretty sophisticated procedure, and I just can give Mr. Malyshev a credit for doing this.
Unless something extraordinary happens, that’s how our future looks in my crystal ball: NWOG price gradually rises to $0.5 and higher, supported by some fundamental estimates (production, reserves, AIM). At some point insiders will start selling small portions of their holdings. People will start talking that “this means nothing”, “they just need pocket cash”, “this is a $5 stock”, etc. This moment, when you start believing all these statements, is usually the most dangerous (to me). That’s when you have to sell enough to return invested money. Of course, I always sell too early but now I own free SIBN shares, almost free SPRL and AURC, etc. I want to own free NWOG shares too. It will happen somewhere in $0.5 area. :)
All IMO (and I am not qualified to give any trading advise - after 3-4 pretty successful years my performance is pretty poor in 2006).
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