Joel’s Resource Report – Letting experts allocate capital at #RBD
Earlier this week, I3 Energy’s announcement that they’d drilled a duff well (with a 90% chance of success) caused the shares to immediately tank by almost 50%. I decided this was overdone and bought a few, expecting a bounce. Unfortunately, this didn’t materialise and I therefore cut my losses.
Whether appraisal or exploration, every well drilled contains some level of risk. I wonder how many investors in I3E really understand the technical and other risks involved with drilling wells – I suspect not many.
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