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ME updated valuation of WPL's Senegal stake, page-23

  1. 1,380 Posts.
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    9.9M v 19M Jan cash call ... they're technically insolvent already ... but they've got until July plus another probably 20M per month to pay until they get T/O (if the price of oil does what I think it's about to do, I think there will be competitors rather than vultures, but management need to chase it or be replaced immediately with sales focussed staff on contract) ... but costs need to be cut immediately and all work on Bambo-1 suspended to fence that 9.9M ... or they dump SNE via the YES vote and postpone the closing insolvency whose timing is dependent on the number of Gambia drills.
 
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