the worm is turning

KRZ have announced a 30:1 consolidation, with a 1:5 free bonus option thrown in.

This is another step along the path to getting this previously poor performer back on the right track to recovery.

With Phase 1 of the Oseil project about to come on stream (at end of month apparently) with production somewhere in the vicinty of 15,000 barrels a day (compared to 5000 barrels a day from temporary facility), and with oil price consistently about US$30 a day and some not very agreeable Arab folk out there (perhaps with good reason, but let's not debate it), the prospects for KRZ look very strong.

And the new stable sh'er, that arrived with deep pockets to get this company through a difficult patch, is going to make a good amount of dosh on this one (as will us sh'ers).

My strongest fundamental buy at present.