so now what, page-20

Its a buy..... company now debt free with substantial cash at bank, JV partner is one of the best in the world for getting production fixed and up and running, hedges at 72 per barrel about to expire. Oil currently trading far north of that.
Enterprise value depending on which report you read and which accounting method you accept is 4.2 to 6.4 per share. Given that even a simple valuation, assuming 350M in cash = 30%, 100% equal 1166M, less some sentiment for their past sins and wait to see sipc invest on production and these shares are cheap at 2.80.

They got out of the hole by getting the deal done and putting cash in the bank.....One little article in the fin review isnt going to ignite the shares, bad PR on their part but thats ok...

Now they are a sitting sitting duck and I have been buying.