Start thinking like an institutional investor who

Start thinking like an institutional investor who is looking to lock money up for 5 years or more. If you can do that, now I want you to step back and compare TECO to 3 other penny stock or small cap plays or comparable size and compare both chart pattern and variance to budget on project time.

I gave one example yesterday where a stock which just reported on their 10 Q last week that they have sold ZERO barrels of oil this year yet they are seeing a rally.

Another example you can look at is WGASD, which is a penny stock oil company I am following. Last summer they said that their company would have significant oil production by now from their recently completed offshore rig and yet they do not. Even as recently as early October they said they would have 24 hour production by late October or early November, yet instead they did a reverse split and here we are in November with no oil.

Another example you can look at is New World Belize, which is another company that just started drilling in Belize. They are supposed to "be in a position to tell whether they have oil" by now, but so far no word and they have shifted their emphasis to "being ahead of schedule on drilling." Uh, I thought they were supposed to know where the oil is by now?

I have been watching a lot of other little oil companies and it's hard to find anyone who is nailing their targets. Maybe there are some little companies that are hitting things on time, but I'm just not seeing it. Little E&P firms seem to be in general overly optimistic in their timelines and chronically resource strapped.

Now, if you were an institutional investor who invests in this space, chances are you have seen little oil companies do this over and over again and therefore have a timeline multiple of 5 times whatever the firm tells you and a healthy discount on their estimated production. If that is the case, then what is the rush to pile in? Wouldn't you rather gather as many data points as possible and then scale into the position since you plan on being locked up for half a decade or more anyway?