Realtime:

I derisked my position in this company by selling enough shares to get my investment back. I sold some at .33.

I am holding my position for long term, they could be a good take over target in the future. The price of oil is not going to be dropping anytime soon, and there are other companies doing the exploration in the area that should start proving what the area is going to be worth.

This may take some time, so a horizon of 3 to 5 years is needed on this one.

As for IAE, the huge blocks around the 1.70 level is a way of the big movers to keep the price stable so there are no surprises. It could be that other funds that did not buy into the 'deal' are trying to punish the stock, but that seems to be out for now as the price is defended most vigorously.

Patience is the key and I hope for an aquisistion in the next few weeks, I can see the first week of August being key. By september we are going to see if a double dip is in the works or not.

Andy