Oldgimmer15 Jun 2015 11:16
Like many others, I am 90% down on paper with this one on, thankfully, a fairly small investment. I would just respectfully point out that most of this paper loss had already been clocked up before the recent crash in the oil price. What that did, of course, was trigger a delay in Redleaf's project, upon which this depends. So, I will not say it was the final nail in the coffin, because I cling to some hope that this will one day come back to life, but it has pushed the prospect of that happening back about two years, at least. Preserving cash (eg Rankine resigning) is the only sensible option pending further developments. No point selling. Precious little value left and would just crystallise a big loss. So I am going to treat this like my few premium bonds. Forget about them and hope that one day they may generate a nice surprise!