I have to disclose I am both a SH of STX and TPD and very disappointed at the result. it is a both lose situation and hope that it is a temporary situation.
I would like to point out that the necessity of CR is over emphasis. Currently TPD has around 9 million cash and the bill that is required to pay is completion of Walyering and the new wells in Mongolian.
Walyering is close to complete and hence I suspect it has been paid quick a big proportion. The only left is the commission team wages.
From the last quarter of TMK, they have only 9 million cash left and hence I would think they would not spend big in the near future until the 3 pilot wells.
I suspect the money TPD asked is for the acquisition cost. We do not know whether it is a SOA or take over. SOA costs more and also the spin off costs are the main reason for the money requested.
This is just my opinion
TPD Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
