Apart from cash, how does one justify the shareprice for this stock? Seems like pure fantasy.
FZR holds two royalties. The first in the Lennard Shelf, where they said in their AR they were watching OBL's activities, actually pays nothing and there does not appear to be any activity planned by BRU or OBL.
The second covering BRU permits, and the great white hope of Ungani oil, is in court against BRU to be interpreted.
That may result in a pyrrhic victory if the oil at Ungani runs out. Already, after the disappointing Ungani 3 announcement yesterday, Macbank has cut the potential oil recovery in half.
This company appears to be run by lawyers and accountants without an oil type anywhere close. Do they in fact know the value of anything?
fantasy shareprice?
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