RE: Natlata10 Jul 2015 20:06
Also posted on ADVFN:
After further serious research on Vincenzo Trani and his businesses there is absolutely no doubt in my mind that Natlata and VT are very well known to each other. Again, I'm not suggesting anything underhand but I'd be amazed if they voted differently to each other should any coup be attempted. Notwithstanding OIL's stated preference to deal with the current bod, and their clause that any change (for the first three? years) within that board (not change of board) must be approved by them, there is nothing I know of that would legally disallow them them to change their minds. They (OIL) are a major company and as such are no doubt pragmatists. So, what would a change of ownership mean?
Quite honestly, I don't know. I know many longterm holders despise the current bod yet I see even some of them expressing concerns about a takeover. Others would be delighted for a change and have no reservations whatsoever. I wasn't around for the events prior to September 2013 but having researched it dispassionately I'm inclined to think the bod were quite unlucky the way things worked out prior to the necessary L61 jv. Yes, they could have done some things better but overall I think they were unlucky. I have some sentimental leanings for them.
That said, I'm a pragmatist too and a part of me would like to see a more dynamic bod get a hold of this company which the vast majority of commentators agree is seriously undervalued. My only concern is what the implications would be to shareholders vis a vis a company (Natlata) with a boss so highly regarded in Russia all the way to the top, becoming owners of Ptr who operate in the bloody middle of Siberia! Will they remain listed on these islands? Will they move lock, stock and barrel to Moscow or St. Petersburg where Mr. Trani is so highly regarded? Most importantly, would they do a Matra Petroleum I.e. Cease trading here and simply open up as a new business in Russia? I doubt it because unless they get the required percentage ownership the current bod will hang on to PTR until they receive an offer they cannot refuse. This offer would have to involve shareholders as that is all the bod would be if such events occurred. My overall sense is that it's a win-win for the shareholders but as you can see it's merely conjecture. For now I'll stick with my belief that the only thing that really matters is bopd.
Steelwatch, I said I'd report on my research into Natlata/General Invest. It is far too complicated to go into suffice to say in my opinion they are definitely in this together.
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