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Irish oil exploration

  • 16-03-2012 10:39am
    #1
    BrokenArrows
    Registered Users, Registered Users 2 Posts: 7,501 ✭✭✭


    With the news of vast quantities of oil being off the coast of ireland are there any irish oil exploration companies i should be looking into who could take advantage of this?


Comments

  • #2
    EdenCyrus
    Registered Users, Registered Users 2 Posts: 41 ✭EdenCyrus


    Have a look at providence! they just struck oil. Shares rocketed yesterday morning


  • #3
    ballyharpat
    Registered Users, Registered Users 2 Posts: 1,833 ✭✭✭ballyharpat


    IMO too late now to invest in Providence, at least until they actually start pumping the oil and then they may become a solid company. They have risen a massive amount over the last few months and if it ends up being costly for them to do more explorations with no success, their price can drop fast. Of course nothing wrong with taking a gamble with 1 or 2k, they may well be the next XOM or may be acquired by a large company.

    If everyone has heard of it and everyone is buying it now, then it's too late....

    Buffett knew that the market was overvalued when he was getting stock tips from the guy working the elevator, that was his signal to sell out, I practice the same principals. I did it with property and I do it with all other stocks, of course Apple has been wrong fr me, as I started selling out 6 months ago, but such is life, make a decision and stick with it....:D


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