I think the best outcome now for shareholders in this company is for the company to sell, merge or be taken over by a larger company with the established income flow to be able to commit to the future costs needed to begin the ultimate drilling in Mali/Mauritania.
To me there seems to be conflict within the board after the debacle of announcements yesterday
After all anyone who buys into this stock, whether individual or company, would only be buying for the big picture, Mali/Maurantia, which is a few years away anyway.
Because the dilution in the share price for BKP to achieve it's commitment to finaly drill in West Africa is probably going to be significant, by more SPP's and selling more of their stake, I really think the risk is to great.
The current strategy for the company is to try and get income by buying into established oil fields at a reasonable price. With the oil price at record levels, do you think they are going to buy in at bargain prices - I think not - but the risk is not going to be reduced.
I still hold a substantial shareholding and will probably do a fair amount of damage financally if I'm right but if I'm wrong I will buy up big because I think the Mali /Maurautania basin is worth a punt. And as you have probably guessed I am a bit of a gambler.
Regards
t
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