Ann: Manora Update - US$27 Million Default of Northern Gulf, page-4

Looks more like dirty tactics and lots of court time.....Looks like the JOA is robust, and the money can be recouped from crude sales fairly quickly....however if crude is at 40 bucks, there is no money to recover.

On one hand this will likely damage the share price in the short term - possibly substantially.

On the other hand, although my average is 45c, im happy to soak these up if the share price declines. TAP can eat up these costs for now.... and are the most underpriced oil producer ive ever seen.

Compare these guys with production, reserves, EV, and market caps of Senex, Beach, Horizon....these guys are a screaming buy, which is why this action is occurring.