After the recent screwing around with gas exploration moratoriums and half-baked resource taxes, I'm beginning to believe that Australia's sovereign risk is almost as bad.
Definitely wouldn't try to hold shares in an African explorer for very long or a producer at all. Hold for the drilling and bail. If they actually try to start mining it then every man and his dog will want a big slice of the pie.
Ann: Completion of SPP, page-131
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