whats the offer worth?9 Dec 2010 11:20
Reuters Nov25 2010 5.25 EST Comment from analyst who did not wish to be named, share price17.5p market cap£56m Company has more cash than market cap! In talks with Italian oil services firm regarding three years remaining on contract for 2 oil rigs. Analyst says "If you have some onshore prospects and a drilling programme....why not buy Regal take rig contracts and pocket the cash?" IMO must be worth at least 50p per share if not why not?