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The “resources” are only worth something if the board find a buyer for the company. The longer this goes on the less likely that seems and some of us will have to decide what level of loss we are willing to take on our holdings.
Thanks fir that @lsetown, I see what you mean and as you say, in fact it likely will not amount to a great deal.
You are right to question where this is going. I sit on my holding for now as the average cost is only a little above current value, but for how long? Here’s hoping patience will be rewarded!
TRP has three potential projects, one of which is drill ready. It shares only one geographic area with GBP which itself holds just the one licence. I do not see any reason why TRP would want to merge its whole operation with GBP although I do see merit in working jointly to secure a sale of shared prospective area. Having said that, am I right in saying that GBP’s PEL94 licence expires later this year? If so why would a major not just wait until it come up for renewal.
I hold shares in both companies but as ever, do your own research!
“ TRP are going nowhere quickly. ” That is true for the time being, however TRP has three possibles compared to one here, which needs to be sold ASAP if the board are to make any money out of it. It does look as though Jim made the right decision, luckily I do not have much tied up in this one.
Certainly will on Cameroon Reggie, I seem to recall the P90 NPV calculated by Oil International last March was based on $40. The paper is on the Tower website, I must go back and have another look at it to check my memory!
@BritishMike it is a little annoying when people make assertions of this nature without apparently being aware of the facts. It is indeed true that JA lent the company £750k some time ago and continues to provide that loan. It is untrue that “ he makes continued money the longer TRP sits idle.” because the interest due is paid in warrants. He can therefore only collect it in cash if he brings one or more of the three ongoing projects to a successful conclusion. In other words he, and indeed all the directors, is paid on results.