It seems that oil search had seen the warning signs all those years ago and got out. Yemen could still turn good but we will need to farmout a considerable equity position to get there.
Seems that politics in Yemen involve many brown paper bags. If the Yemeni government wanted the best result for its people then production would have restarted years ago here. Now they have an unknown Covid outbreak and a very rag tag hospital system, brown paper bags won’t save them. This fractionated country will collapse if this gets out of hand, maybe the Saudi’s and their proxy’s in the region won’t have a choice but to have boots on the ground or they will have an outbreak in their own communities in quick time.
Hopefully it’s not terminal but it’s pretty dire, management will need to be held too account.
Best of luck holders.
PSA Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
