Don't share your positive outlook based on the current direction the company is heading - no new investment /acquisition or divestment in the pipeline.
Apart from the interest earn from the cash pile, no revenue or profit for many years to come.(only cash burn in foreseeable future)
Very unlikely the Brazilian oil field development (which the company bank on) will proceed based on current depressed POO.
The company report / announcement indicates that the production/development cost of around $50 a barrel, essentially means the oil field in Brazil is worthless. (who is brave enough to press ahead with the billion $ development knowing the return is negative)
It is beyond belief that they sat tight on the cash pile for so long without any strategy /business plan.
There was no vigour or drive to advance the company-the main reason the share price is lingering at this level and no support from investment community or fund managers.
The price will skyrocket ?? base on what; perhaps diminish cash pot ????? with no income stream whatsoever.
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Don't share your positive outlook based on the current direction...
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