What a recovery. I got up at 6:30, took a look at the screen, saw $1.44 and went back to bed. All because the pipeline is up and running or did they announce the new pipeline and test results for UMU10 too? I wasn't brave enough or smart enough to buy down there but at least I also didn't sell down there.
One thing that is running through my mind is risk. This is no criticism at all of Keith Shaeffer as I feel for the guy and all the others who got absolutely crushed in the Poseidon adventure.Down about 70% now from 2 days ago.He got out of Mart because he saw it as too risky in Nigeria, yet took a $400,000 haircut yesterday on Poseidon, a Calgary-based and exclusive North American operator.Something to ponder. I did buy a very small position in Poseidon yesterday and already showing a sizable % loss.It could still prove to be a bargain at these prices but I think it's going to take time to unravel that one.