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No. of Recommendations: 1
I wouldn't listen to your broker because he obviously doesn't know the story, if he did he would have many of his clients in the stock. Also, I wouldn't put too much faith in technical analysis either.

I first heard about this stock in 1991 before the Cusiana discovery and was in the stock around $15 and sold over $50. I got back in around $35 and sold again at $60. This time around I started buying at $12 (same time as Hicks Muse) and averaged down BIG at $7. Earlier this year I remember the stock hitting $15 only to come back down to the $10 range again and lamenting the fact I didn't sell. Now the stock is $25 and I'm glad I hung in there. I told everyone in my office about OIL in the $8-$12 range and now they think I'm smart.

My original plan was to hold onto the January options I have until expiration. I bought them in January so it was a one year hold. I told myself no matter what that I would hold until then. So far , so good.

After looking at ALL of the data and looking at the long-term monthy chart I think we could be in for a HUGE run. You'll hate yourself if you sell and the stock goes back to $60.

In my opinion, I REALLY think this stock has the potential to be a $70-$100 stock. This is BEST CASE scenario for me. There is already talk that the EG field (which is HUGE) could yield in excess of 1 billion barrels. If that is the case then you can figure 1000*5=$50 per share on just this field. Add in $25 for Cusiana and $7 for Thailand and you get to $82 pretty quick. Remember that OIL has an 85% interest in EG which is tremendous for such a small company (Their net interest in Cusiana is only 10%) so by comparison this is BY FAR the largest find for them.

Again it is hard to say where this stock goes because we don't know how large EG is but I say that the upside POTENTIAL is enormous. Even though I'm up 3 1/2 times I am in no hurry to sell now even though it has had such a nice pop. Let your winners run. I think the stock hits $30-$35 by January and then we decide what to do.

Go to the Yahoo board for Triton as their are some very bright oil people on the board who have been long bulls on this stock who also expect the stock to go higher. Don't rush into anything before OIL starts and finishes their upcoming road show starting December 1. as more and more institutions buy the stock. In addition, we REALLY haven't seen a pop in OIL due to the current increase in oil prices. This is an extremely leveraged play and the stock should be much higher based on this. Wait until at least $30 before buying puts to protect the downside. If you buy them now and the stock runs to $35 then you will have wasted your money. Just think if you had sold AOL in August. Hang in there for now, we could have the BEST Christmas ever.
Take care and see you on the Yahoo board!!

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