Oil explorer shares have been an anathema thus far.
The only one that made me a sizeable amount of money , has still not drilled a hole. Interesting .
Thus , one can highly recommend taking profits , if you have them pre-drill result .Of course , depending on your level of knowledge of geology , and confidence in the strike being positive .
Problems also occur post - drill , in unclear information , making it very difficult for the average investor to profit . I can only advise that profit taking is essential in these glory or bust shares .
My personal examples , I have held Borders & Southern , Falklands Oil & Gas , Chariot Oil . All had reasonably bad drilling results averaging a 60 % loss , post -drill .
Also , held Petrel resources and Sacoil ( the latter , still in the portfolio ). The former made a 300% profit and still has not drilled and the latter is even . also , still yet to drill . Hold the latter in the portfolio for the very long term and will not trade , as Barclays trading is expensive .
To sum up , I have learned oodles about oil and yet profit has so far escaped me . a lesson I shall take a long , long time to forget .
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