I've learned more than a few lessons in recent years about investing in young energy companies that would like you to believe that they have wonderful acreage positions in tight or shale oil plays.
Not all of the lessons have been of the painful variety because these little undiscovered companies can be big winners. As a non-institutional investor, I can get into these small companies at extremely attractive prices and let some great entrepreneurial businessmen do all of the hard work for me.
On the other hand, I certainly have also had some tough lessons. The most significant of which is that if I'm going to invest in a small energy company, I really should stick with proven management teams....
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