What an absolute crock...
"Multiples of book value"
Yeah...x2...big deal!
All up they paid about $2.4m for Bula and the rig...at a time when oil was about $11 a barrel.
Since then, oil has quadrupled, the rig has been upgraded appoximately doubling it's value, field decline has all but ceased and additianal wells have been drilled on the permit.
Deal of the century...for the buyers!
Someone needs their head read!
Cheers!
well that worked out well then, page-6
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