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1900bo produced in a week, or average of just over 200bopd, when initial flush production was as high as 1000bopd IMO is the figure the market is concerned about....They must get this well right or they have no company....The first 2 wells were a disaster and the 3rd is currently looking no better......With so much debt they could very quickly get into a position where shareholders have no equity in the company.....
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I'll take those odds !

 

Even if, as you say "99% of seed capitalist ventures fail" and I invested $2,000 into 100 ventures, total cost would be $200,000 but one of them is going to come off, so I'm going to get back $360,000 :) And that's providing it was the last one that came good. If it was one of the first, let's say ten, I'd only be up for $20,000 :biggrin:

 

Hi Duster, that is and has been my point about being a seed capitalist, that apparantly cannot be got through to some members who think they are so clever scalping then odd $thousand when in fact the stock market is a far bigger world than screen watching all day, but some pre requisites are required, and the potential rewards are somewhat larger than keyboard pressing.

 

You either have to run across somebody who wants financial backing very early in the invention phase, ie in the case of Neptune Underwater Welding, (which I stupidly refused) or maintain very good relations with a wide circle of stockbrokers who are generally the first port of call for somebody with a good idea/product they want to bring to market, and they pass your name to the person seeking that intitial finance, It is at this point occurs the real "pointy end"---the cash commitment stage which is 90% (90% is my experience)certain to go down the toilet.

 

It is a great pity that newcomers to the stockmarket have the false impression that day/short term trading is all that there is to the stockmarket.

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"It is a great pity that newcomers to the stockmarket have the false impression that day/short term trading is all that there is to the stockmarket."

 

Well flower,if this is directed at me,you are wrong....again.Been at this at least as long as you.There are plenty of ways to make money in the Stockmaket,as has been said many,many times on this forum.If one wishes to be involved with Brokers--good luck.I know plenty and live next door to 'household name' merchant Banker:I stay away because Brokers look after number one...period.The larger punters are either inside traders (yep,I know it doesn't exist) or they work on their own.

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So flower,

An old hand in oil drilling! Whatever next? Another round the camp fire story from our resident seed capitalist!

In recent years you have bought and currently hold CVN,RIA and SUR,all of which are at a fraction of your buy in price.

 

Yet,this is the advice you give melua................"Having been in more oil well drilling than care to think about, surely the golden rule is BUY on the rumour that drilling is about to start, and SELL immediately the result is known ie the fact"

 

 

Not advice--just a suggestion----in retrospect was that suggestion proven to be correct?

http://www.asx.com.au/asx/statistics/displ...;idsId=01390265

post-20731-1362964594_thumb.jpg

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Looks like I turn this off again for another week.

 

You continue to use anything that shows yourself Flower as the Eggspurt.

 

Not advice--just a suggestion----in retrospect was that suggestion proven to be correct? .

 

Now that is some sort of Statement isn't it. What happens to the Cries of Expertise when your above comments were not followed by your own holdings of CVN, Ria & Sur ??.

 

No comment perhaps as it didnt score you self proclaimed Brownie points ?.

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What happens to the Cries of Expertise when your above comments were not followed by your own holdings of CVN, Ria & Sur ??.

 

Though it was obvious that these hadn't been the wisest of moves, as said before the sums involved are not vast, in the case of CVN and SUR I do expect at the very least to get my capital back---RIA would require a near miracle, SBM think at some point the board will control the production costs of their ill fated recent takeover, as also said elsewere dont have a great faith in the overall outlook of the market, aim by July to be 100% liquid which is highly unlikely, but certainly hope to be shot of CVN and SUR by then.

 

When as liquid as I can get, will simply concentrate in trading NST----obviously depending on how the POG is trending at that time, currently holding a copper speccy VXR and a gold speccy PXG, and DRM as a soon to produce high grade goldie. That's the plan.

 

Would never discount trading anything, but will have to try and master the cycle a bit better next time.

 

Seed Capital Investment an entirely different proposition to trading.

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Sold most of my holding and took a haircut. There is no way the IP30 will be any good given the technical problems that have arisen yet again. Cut, take the loss and move on.

 

http://www.asx.com.au/asx/statistics/displ...;idsId=01390265

 

Hi melua, IMO very sensible to have kept a portion of your original holding given todays Production Update. I am facing the same sort of clean up problems with the 7 wells SUR has currently under test in Texas, the whole subject of fraccing will need to better understood by share traders methinks.

 

Havent followed this story, the structural formations seem similiar to those with SUR, the clean up problems exactly the same.

 

On the plus side is the fact that Rosewood 21H No1 has already produced 1,900 bo with the gas being flared, so all may not yet be lost, as the announcement sais it is far too early to predict the long term production rates.

 

Brave and sensible move, congratulations.Still think the best way to play these would be to "BUY the Rumour---but SELL the fact"not the other way around.

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Cut, take the loss and move on.

 

That's some good role-modeling for junior TA'ers like us :graduated: . Some of us can be really anchored down by our own psyche.

 

BTW - love your music. Can't believe you have the time to trade given your busy schedule and all.

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