Narrow-sightedness can be the downfall of man, so that is why I am, for the first time, seriously looking to explore into foreign oil.
For the vast majority of foreign oil plays, I see way too much room for scammage, since records are so unverifiable.
DD is difficult enough on domestic plays, let alone to DD foreign plays.
I am not one who will easily trust my money in anyone's hands. I am VERY meticulous with my domestic choices. With foreign plays, I am twice, nay, thrice, as cautious.
It appears so far that ERHE may in fact, be an excellent foreign play, when all the pieces come closer together.
Timing is a major factor though, as I am not one who will allow my investment to sit idle for long periods of time, while other plays grow by leaps and bounds. Life is just too short 'to wait'.
Many people follow me, and I do not wish them to misunderstand where my interests may be growing.
I will be honest in saying that I do not quite see (for myself)the timing for a position in ERHE as being now, or even in the near term.
I look for plays that have a near immediate enough return where green is always the color of the position. In other words, timing of such, that entry is just prior to the sustained uptrend, be it to whatever extent the confirmed reversal is.
Generally speaking, if an oil play does not appear to have atleast a 3 bagger potential in 3 months, it certainly does not qualify for the 10 bagger in 3 months that I look for, much less, the 10 bagger in 3 weeks, that I prefer, as rare as they are.
Lately, the O&G sector has been brutal to a vast amount of plays and I can only assume this is because the market has grown more fickle than ever before, preferring only plays that are actually 'bringing home the bacon'. Of course, this only stands to reason though.
There are a great many O&G plays with near ungodly potentials. FPPL is one, with their incredible 'collection' of federal leases. However, without rigs, their 'potential' lies 'dead in the water' (no pun intended). Hence, their investors' monies are dead (for the time being) as well. Such is not how a wisely made investment should perform.
Hope is not an investment. Fact, is.
I invest in facts.
Facts, when combined with the actions to progress upon them, produce results. I invest in results. I make money from results, not hope.
While I see ERHE as being a potential for a 20-30-50 bagger, I also see the timing is not yet right.
I will be back, when it is.
In the meanwhile, GLTA, God bless, and have a safe and Happy Easter.
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