Hey VH, sure, there are hurdles for them, but... I don't think...

Hey VH, sure, there are hurdles for them, but... I don't think the project will go ahead in the current climate either way.
I do concede that their position is less strong with a low price oil environment.
I guess I was just interested to see the first company I follow have a negative E/V.

I hold some in my super. Patience is required, but surely the downside to those buying is fairly limited, assuming management do not stuff up too badly. Perhaps they should merge with CVN? A company with $370m AUD would allow Buffalo to be developed, while the African asset sits and gets moldy (I am not being overly serious about the merger, but... cash could be put somewhere to work, instead of sitting still).

@Chass - I guess we will just have to wait and see. The 15% ownership def is worth something, and if it gets down towards $0.01, I would be tempted to average down, just because of the cash.

Good luck to all holders. Tough times.