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MAX PETROLEUM - The Birth of a Giant
Downend - Sat, 24 Dec 05 :
Thank you for your sensible cautionary advice hb, but I feel I am very realistic and firmly earth-bound on this stock. Risks and all. I'm not booking any tickets for fairyland, Sunderland or anywhere else, but I am confident that the management have some things you and I haven't got, and primarily that's seismic and experience of Kazahkstan. I suspect the parts of Saudi that don't have any oil, which you refer to, have seismic that confirms just that. I'd also imagine that the Maersk boys wanted a butcher's hook at the squiggles and lines and other techie stuff in order to see what's what. After all, why give up senior positions in their previous company to join a new outfit which doesn't know its geology. As for the region, it's not exactly wildcat drilling in Chipping Sodbury is it. I think they described the Kazgas play as 'significant, highly prospective.' New boy Ole Udson says "I have worked in the country for many years and IMMEDIATELY RECOGNISED the potential of the portfolio it has already put together."
I believe I have assessed the risks for my own particular purposes but tell me if I post anything that is total bow-locks. I make my decisions based on rns news. BBs are for the craik. You have to have a natter sometimes otherwise its boring waiting for the till to ring.
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