Same old discussion and same old scare tactics by some, we got the money for the deal in March this year we also got the money to cover 2 drill costs etc , ok we have some running costs but the bod must have put some / most of this money to use with some sort of interest until they decide how to spend it. So the chances are that with interest we have more money now than we started with in March. With the oil sector down so much there are many oil companies that we could take over if we wanted to , even Premier oil with a big loan deal, but soon we will have the drill results and who knows what could / will happen.
We do have some idea "Cash at 30 June 2015 ~$145million* (post farm-out completion and $9 million Petrofac settlement), no debt.". BoD would have to quite a few cheese and wine parties to whittle half that away in 2 months.
" Do you think we would be valued at circa £80m MCAP if we had £150m cash and no debt..... Off course we wouldn't!!!! " Actually yes I think we would. The money in the in the bank is one of the primary reasons for the discount the company trades on i.e. the uncertainty in the City about what BLVN will do with its cash pile. BLVN need to show a bit more balanced portfolio to reflect its core NAV of 74p a share. This cash pile is a reason for the rumours that BLVN may make a bid for VOG as there are there are significant synergies between the two.
i wasn't looking for a fight....and i wasn't the one who bought this subject up up so vent your anger elsewhere. i was merely stating what the RNS says..........i'm certainly not going to argue over anyones "estimates" as that would be RIDICULOUS
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