Sojourner, it would be a very, very risky game to play, given the size of the debt, the presence of a signed Joint Venture Agreement, the well publicised consequences of default and the horsepower of the Operator, with whom they are now in a huge dispute.
The other joint venturer is TAP, and we see a similar issues - large amounts of money apparently unpaid - not to mention actions related to payment of money which TAP has described as an abuse of a statutory process in Australia.
This, of course, is all happening amid an unexpectedly severe collapse in the oil price, which caught out many well regarded oil companies.
Plus, Mr Yenbamroong bought millions more TAP shares in early 2015 and they are now trading below his purchase price.
If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck. My guess is "over-stretched".
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Sojourner, it would be a very, very risky game to play, given...
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