It is funny how "puzzled" continues to hold a grudge.
The oil always was there in the GoT. With the new exploration wells, Coastal has found far more than that discovered by Premier. I used to work with somebody who worked for Premier and he said that there is oil there even before Coastal started to drill. When the play popped up, I recalled what I had been told and took the plunge.
Some readers and posters do not understand that Coastal is still to some extent an exploration play. As such, there are risks that some of the exploration results will be poor. That said, we both know that once you find a pattern in the O&G business that, often, similar results keep coming. This is where Coastal is at now. In other words, a good part of what they are exploring is being rapidly derisked. My opinion is that this derisking is part of Coastal's end game. However, that is an opinion only and not fact.
I have no idea what drives "puzzled" to keep up this vendetta on both a person and a company [via the BB] that is doing extremely well. It would seem that, historically, this goes back to Dualex (DXE) and the Syrian gas drill that was so close to being a winner that one could taste it. I was in the "go for it" camp like Oiljack. Life was not kind. The well was a dud and I ate crow BIG time for it, lesson learned. In hind sight and after talking to management at DXE, there are a number of reasons why the well failed, but that is history.
One must remember that Coastal is no longer in a binary situation of make or break like Dualex (almost) was. Coastal has found oil in what appears to be a kind of repeatable stratigraphic play, which bodes well for more successes.
Each of us pays our money and takes our chances when we buy shares. Many of us invest in junior exploreco's because of the leverage. Where there was once nothing, we buy with the hope that there will be something. When one starts investigating a junior, it is all about do you believe the story and why. There is nothing else to pin your hopes on. Should the story turn out to be at least partly right, you will be rewarded with this leverage.
Even investments in so called blue chips are no guarantee of making a return as the Great Recession has shown. Many "biggies" went under, or are still on life support.
In closing, those who held their breath for what seemed like forever with their Dualex (DXE) shares will have been well rewarded. The share price has returned from what looked like Armageddon (the price got as low as four, yes, "4" cents) to a very decent 23 cents as of last Friday's close (24 Feb '12).
Posts like what "puzzled" has just made add nothing, can be viewed as continuing a vendetta and insult the readership of the CEN BB. Her posts are one of the reasons that Oiljack started his own BB.
p.s. When investing, never shoot a running horse!