Fin Times have ran similar articles. Goldman Sachs have flagged them as possible takeover target a number of times. They have good assets that produce oil at extremely low prices.
Why are they not going to buy at 1.50. Because the price of oil was in freefall. What board is going to sanction a takeover of that size in those market conditions with Opec Non Opec and shale committed to pumping flat out.
You make some interesting points and I hope you are right. I did think that Heavey moving to chairman might make it easier in that regard. I assume though that it's genuine to have him still around until the new ceo can build up personal relationships with senior politicians, officials etc.
I agree with all of your points. I don't see working through the debt as being realistic. It will only be tackled by asset sales. Potential reserve increases in Kenya look promising and it would… Read More
I think there are a number of circumstances that are either pointing to or being put in place in readiness for a takeover.
1. Mr Heavey making the point late last year that a takeover was not on the cards. We know him too well to make such a comment 2. He has moved up to chairman now. This breaks city regs buy signals that it may not be for a long time and puts himself in a controlling position for massively significant takeover discussions 3. Results publication imminent clearing the way… Read More
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