Comment from ST at IC - I have no reason to change my view on Global Energy Development. Post the disposal, net funds equate to 73p a share against a share price of 50p. This means we are getting a free carry on the drilling campaign, quite literally as the farmout means that Global's Partners are picking up the tab. The shares are worth buying.
It moves slowly upwards, next week will be interesting as results come out which should be good. I'm in this one for the long term as expect it to continue going upwards over the next 2 years.
Results expected w/c 8th December. Interesting comment from ST at IC - Also I don’t think that many investors have fully cottoned onto the fact that a management profit share agreement means that Conygar’s main board needs to grow the company’s net asset value per share by 41 per cent to 245p in the three financial years to September 2016 to trigger a payout for themselves. This means there is an even greater incentive for the company to realise gains on development properties and make some shrewd opportunistic purchases to create value. And this is what the senior management team have quietly been doing.