Shorters are not interested in investing just driving this as low as possible. Sam keeps buying and note he has plenty at a much higher price. After Trumps pump of POO this should open up significantly tomorrow
Despite the excellence of the discovery I have always though that someone will simply let these clot run out of cash and take the lot for nowt when the licence expires. They could not get a farm in when POO was over 60 so what chance now? Sad days when you compare to it’s pomp and the fact that they have the only significant discovery in the SFB.
This really has been dragging on far too long, IMHO get the deal done or sell up our share to Shorecan. Yes rig rates should be cheaper but POO is on its ass. Can’t see the finance guys signing off a deal at present because the whole premise of the deal is to pay them back through profits and at current POO the project is loss making. Love to be proved wrong as the mkt needs a decent recovery play. Arts cash must be running low again so unless he can pull a rabbit out the hat surely he must recapitalise the company and consolidate shares
Badly needed here. I realise some of these people are on lengthy notice periods but please get a move on.... Meanwhile mkt cap around 120 mill.....insane times. Main job of new ceo get at least a farm down done ideally in Guyana.
Mike as I said IMHO Asher played a blinder in the last placing to get it away at that price. He could as a further show of good faith taken options in Lieu of salary at the placing price. Would of just helped with sentiment. That being said looks like farm in still going well will just be later than expected which is understandable with the Coronavirus