The standout comment for me was Larry talking about the portfolio being weighted to high-risk ventures. I agree with that, and I'm glad he suggested that any new ventures will have a lower risk profile. I would be very surprised if he's not looking at the Tendrara gas prospect which was relinquished by Fastnet at the beginning of the year. That has a 50% chance of being commercial and gas/transport infrastructure is already there.
Never mind the sell-side analysts being underwhelmed, the market has received the RNS with the apathy with which it appears to have been written. There is mention of Woodside and Azilat but nothing about Cairn or suggestion of potential partners in Namibia. I get the impression that new enquiries have dried up whilst the oil price remains low. Perhaps we need to dress the window, put a note with contact details on it and then shut the shop until customers return to the high street.
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