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Long a buy and hold investor, I now believe that buy and hold has to be re-evaluated in a world of ever increasing, instant information and huge gyrations in markets all over the world. A value investor at heart, I anchor my portfolio with conservative funds and blue chip dividend stocks, but... More
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Retirefund
  • Junior Oils May Be Sitting On Giant Resources In Australia 0 comments
    Mar 20, 2013 1:09 PM | about stocks: RDOIF
    Oil Juniors in South Australia should benefit from new discovery in Ackaringa Basin

    Rodinia Oil Co (TSE-ROZ) (OTC-RDOIF.PK) is a Canadian junior oil and gas company engaged in the exploration, acquisition and development of onshore resources in the South and Western part of Australia.

    Rodinia owns 85% of approximately 23 million acres of exploration land in South and West Australia, most of which is in the Officer Basin.

    The Officer Basin is located about 40 km from the town of Coober Pedy, which is "ground Zero" of the recent large discovery reported on Jan 23rd by Linc Oil in the Ackaringa Basin. (See: the $20 Trillion showdown at Coober Pedy)

    On Jan 23rd, Linc Oil (ASX-LNC) announced to the world a discovery that may change the dynamic in the oil sector for years to come. (See article at Seeking Alpha) Two separate firms who consult for Linc energy estimate there is somewhere between 106 and 233 billion barrels in the Ackaringa Basin. These reserves, if true, will boost Australia's oil reserves to the level of Saudi Arabia. Real estate prices in Coober Pedy have already popped 30% since the announcement, along with the price of Linc Oil shares.

    Linc Oil is a mid-tier Australian producer which has traded as high as $29 per share recently. I believe there will be a pullback in the near term at which point I may try to ease into this stock, hopefully, in the $25 range or lower.

    In the mean time, I am picking up some shares of other juniors in close proximity to this discovery, including Rodinia Oil. Remember, penny stocks are often volatile and highly speculative. They are not for the faint of heart. Having said that, I usually play 10% of my portfolio in this volatile game and have had great success over the years. (note; I have also suffered great disappointments - be careful out there)

    At .07c per share, If Rodinia has good results with it's recent drills, it could be a home run. As I said before, not for the faint of heart!

    Disclosure: I am long OTC:RDOIF.

    Themes: LNCGY.PK, XOM, OIL, TSE-ROZ, ASE-LNC, Energy, Juniors Stocks: RDOIF
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