El
I agree re ROC. they have spent alot in the years gone by. I simply think that current reserves of 47 milion mean the SP is worth alot more than its current price. They also have indicated that they will reduce expenditure. have 25% of prod hedged at 60 so thats another safety net.
not to many companies with 47 million barrels. Looking for a medium term hold, maybe even Short term.
perlubie-1 , page-13
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