Actually I have been buying more. If CEO Todd Harrington can prove up 2 billion tonnes of export thermal at South Pentland then the shares have got to be worth alot more than 22c. Having said that, there are some pretty smashed valuations around the sector at the moment. I also bought EOC and BND recently because of the corporate interest - I don't think those stocks will be independent for much longer.
Why do you hate Noble so much? I am hearing that Noble / BWD are looking at some assets in Mongolia. BWD could well become the next GUF.
Whatever the future ownership structure of BWD, I know that Noble want it to expand fast, through aggressive exploration and vending in / buying assets. Now it owns 51% of BWD. Who knows, in the future it may look at selling down some of it's stake ala GCL, as it typically doesn't like to own more than 50%. Or maybe it will just buy the lot and re-list it at a much higher price when the sector recovers in a year or two.
BWD Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
