Low debt, too low =Takeover very likely22 Sep 2021 10:57
The debt is 10%,unsecured, in Iraq, is reasonably cheap.
They should in fact have far far more debt, as they can very comfortably afford it, and they would have increased production to 75_85k long since.
They are hugely deleveraged. The fact that they have never taken on RBL or further bonds, to grow, particularly a convertible issue, is just one reason I believe they will soon be sold.
They are imo a project company to 55k, IOC probably consortium given the scale of the asset, will do the serious development to 110k++.
https://twitter.com/OilGasTracker/status/1435194672633237506?s=19