My experience with oil co. startups is that you have to trade them. Investing is a losing proposition....ALWAYS! Seeing cycles and charting are a must.
That's true even if the company is 100% on the up & up and fully reporting. One of my biggest winners was Storm Cat Energy, which moved off the OTC to a big board and has great revenue. If I'd held it long term, I would have lost money or at least not made much.