Its not rocket science. Before the financial restructuring it was over geared. QED the bond holders had them by the short and curleys. Now the gearing is realistic the shareholders are in control. Investing in an overheated company is always risky. Those who lost money did so because lady luck didn't deliver on their high risk bet. With the gearing now manageable the risk is much less. Sure this also means the potential gain is less, but for those with realist expectations this is now a sensible play.
Yes invstrat, they need to pull their fingers out their asses. As for helx, please stop posting 'i told you so's' on this website. The current SP is way too low with extremely high upside. With $121 in the bank and $85 owing this is over 50% of its current SP alone, forget the huge assets they sit on. The company cannot go bankrupt any time medium term due to the cash reserves, its simply impossible. I would amazed if this went to 1p and honestly see it getting 2p and beyond as soon as some investor confidence is restored. Huge upside here. The BOD just need to start placating investor fears with a proper roadmap.
I really wonder what they do all day ? - 10 sound and true men within our BoD & senior management, apparently running a very small oil Company which has funds available but no clue what to do with them to improve our lot: No info to shareholders No press releases No forward plans No efforts to develop the asset A genious Strategist with invaluable knowledge and contacts in Kurdistan - with no strategy (apart from personal bonus creation) A World Class Production engineer with deadpan production improvement Production ticks over with no visible effort by or from them (OK JF did manage an appology to the Puppet Master via his recent self-degrading RNS).
These guys are horrendously well paid for thumb twiddeling: attract bonuses for doing nothing tangible, seduced to hang around via an attractive retention/incentive scheme - and stand to clean up Big Time when they are told to sell up by the PM and his MP ! Is there no recourse to have them justify their existence and remunerations here ?
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