Arrowsmith stabilisation plants value is ascribed to it by the amount of oil it stabilises, and more importantly the amount of oil (or otherwise) in the locality that require it's services, without oil it has no value, and would therefore not require replacing. The only justification to ever replace it would be sufficient long term /an excess of oil.
No oil, no value, simple.
who would buy it? ...noone.
So towner can convert all he likes on paper to reserves and trigger his freebies , but it won't move the flowmeter going into asp for ordinary shareholders.
The Agm is days away, please all vote no to all resolutions .
Cheers tc.
Tamarind NZ enters administration, page-30
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