Some interesting posts today but none which plausibly explains why current market cap is less than cash in the bank. Logically, that means that the rest of BLVN is viewed by the market as being into negative value territory which of course is nonsense.
Well the SP has until the 26th of March to move in to at least the high 30's otherwise i will have to conceed that i, as well as the market have no confidence in the BOD. Kevin's salary is ridiculous, i'm sure he knows it. It seems even on excellent news no one is willing to invest in these guys. Like Boyasaka says, it seems there are better places to increase your money right now. Look at GKP.... FFS i could have made my money back there today. I mean... when is the last time we saw a +10% rise in BLVN?
They know their onions over at Lukoil the Russian oil giant. So why did they pay equivalent 72p a share for their 30% stake? Because they see upside from that level. This bodes very well for us and our remaining stake. This values our remaining 20% stake at £80 million. Cash in the bank more than share price. Re kevin Hart management I am not with the bears here, but did take their concerns into account, but then I am a little biased as have soft spot for cairn energy particularly during period kevin was there 1998-2006 and there share price performance was spectacular. Have seen references from other management figures at Cairn who spoke highly of kevin Hart. I think people have to realise that west africa is more prone to delays than india and uk so perhaps he was a little naive with his timescale, others unhappy with remuneration, fair enough your entitled to your opinions. The deal completion yesterday was great. Lukoil russian giant know their onions.. Having them on board with Etinde project is a bonus and am sure will quicken things in West Africa. Share buybacks would be a great move to. All in all looks very positive and a no brainer strong buy in my book.
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