Frontier Smart Technologies – “pleased to announce… Board Transition, Refinancing and Strategy”… but still trading turnaround needed
Gulf Marine Services – from late May “improving pipeline of opportunities” to now “disappointed to reset guidance for 2019”!
Tom Winnifrith Bonus Bearcast for Roger Lawson: your post Burford proposals are largely unwise & would be, largely, counter productive
Brady – from end-May “new sales pipeline is building” to now “revenue from new customers forecasted will not materialise during fiscal 2019”!
Taking risks on exploration drills is generally a mugs game and a good way to lose money quickly, but just very so often if you choose carefully, it can really pay off. That was definitely the case with Eco Atlantic Oil and Gas (ECO) this morning when it announced a “major oil discovery” at the Orinduik block in offshore Guyana, when the Jethro-1 drill found 55 meters of net high quality oil pay in the lower tertiary sandstones...
Shares in Eco Atlantic Oil and Gas (ECO) reached 100p in March and on 5th July the company announced “the spudding of the first exploration well on its Jethro-Lobe prospect on the Orinduik Block… estimate the well will take up to 40 days to drill… the start of a fascinating and potentially transformational time for the company”. However, the shares are now available at a 70p offer price…
Private investors seem to love the boom or bust scenario that applies to many of the exploration drills for oil and gas, but is it really worth taking the risk on these types of plays?
Lots of private investors talk about ‘investing’ in oil and gas exploration plays, but in most cases I would argue that ‘gambling’ is a far more suitable description and has a similar outcome, with the majority ending up losing money.
Back in 2010 it seemed that barely a week would go by without some tiny AIM oil explorer drilling a well that could potentially make or break the company, but these days much of that excitement seems to have disappeared.
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