"One of Howell's driving philosophies is if you have a big portfolio, you are going to succeed".
What this refers to is:- many number of tenements, meaning the more you have the better chance of success.
Not necessarily the size of them as far as percentage goes or in area.
TPT now have 4 with up to 100% interest. I would imagine TPT will be adding significantly to that over the next year or so. Maybe more with smaller % interests...I don't know
Lots of successful oil and gas businesses will have lots with modest interests in each tenement, thereby sharing risk. Quite often if they have a big share in a project, they will sell off some interest, lower their exposure, to get cash to pursue other projects to reduce risk over the long term.
BP, shell and all the big companies do this.
I would imagine that new management is planning on building an Independent oil and gas company and to do this they will need to employ a strategy like this.
Tullow and Kosmos built their companies on the success of a big project like tarfaya and now have leveraged off that success by taking interests all over the place.
TPT Price at posting:
30.5¢ Sentiment: Hold Disclosure: Held
