Riddler,thanks.i got in at 74.5/75p last week which I hope was the bottom.Around the £1 I was sceptical because of the HQ noise & given downward trend.However the more I researched the share the more I liked a punt.Standing still with such excellent cash reserves/Statoil business it's comfortably worth £1+On an intrinsic basis but if they clear up the Ecuador receivable then demonstrate new contracts( or restoration of previoudly agreed Russisn deal) I sense strong ups1de.
RNS cleared up the HQ issue: £12 per sq ft without maintenance or refurb costs looks a great deal.Even liquidated Thal worth more than current price( cash & valuable physical assets) yet in the med/ long term it should offer good growth prospects: after all oil explorers hsve to explore!They play the long game.If or more likely when Russian EU sanctions ease it should move back towards £1.20 at the very least...a jolly nice bounce
What's the likelihood of the intra party loan of $7.2m to trust from Thsl being paid back.? How will they fund the interest if the underlying asset (non dividend paying Thal shares) are collapsing in value? Doesn't make much sense to sell shares to pay interest ( as biggest tranche of trust shares were acquired at weighted average of £1.45!)..no doubt the interest burden will be ' rolled over' until we see a striking share price recovery:currently >70%.
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