Ok--my investment here is down 80%; which would be warranted if there were no prospects for any well drilled at BBE & BBW---however, I, for one, am optimistic that production and royalties will occur sometime in 2014. if and when the wells produce, the value of this stock will go up 20x's plus
That's the good news for TISDZ (looking to complete one of the blackbeard wells as per Flores). The bad news is:
1) From the CC today, they pretty much stated that O&G capex was being curtailed
2) The only O&G area where cap ex in the near term (next couple of years) will be allocated is to accelerate development of the deep water discoveries.
3) UD activity will be slow in the near term - limited to completing the wells drilled to date to hold leases, the 2 onshore exploritory wells (Lineham Creek and Highlander), and he mentioned England.
So - I think TISDZ holders need to be patient (which, includes myself) as it will be a loooong time before any meaningful development/production comes from the Blackbeard area (if the UD works out). JMO
Disgusted that I failed to sell here when I sold off McMorran. Now however I am considering adding some shares at these low prices since yes it appears that royalties will start at some point in 2014 or 2015.
"So why has the lone insider sold 1.6+ million shares . . . ."
McKenzie is not really an "insider." The only real insiders (from a knowledge standpoint) work for FCX. McKenzie, who I acknowledge has been right in selling all the way down, likely doesn't know that much more than the rest of us.