undervalued, page-6

Good work Maslow...just to your point on credibility which is the line perpetuated by Merril Lynch.

Not sure if you find this type of thing interesting .... i certainly do and it goes to credibilty or lack thereof..

18-Nov-10 BA-Merrill Lynch
Target $11.79 (was $11.76). The Maruja 1 well has hit oil and the broker sees this as a positive for the company with scope to boost its risked valuation by around 50c per share.

While the schedule change for the IPO is a concern the broker suggests the share price reaction to the news has been overdone. Buy rating is retained.
Buy, High Risk

Now on the 19th November.....that's right the very next day


Oil & Gas Producers
19 November 2010
Research Analyst
Merrill Lynch (Australia)

Price A$7.90
Price Objective

They say the prospects hadn't changed but managements lack of credibilty and lack of fucnding due to IPO not proceeding made KAR depreciate over night from $11.79 to $7.90 ???? and note the night before EVEN when the IPO was in question it was worth 11.79...IPO doesn't proceed and management have lack of cred.... yeah right so we downdgrade stock by 30 + %.

Wouldn't it be nice to know if Merril were one of the Funds in the IPO in BRAZIL and placing the stock to their clients???

Of course the IPO fails - do they get their commission ? No...so the day before their clients were told selling over done and to buy ...great the next day the clients who bought at 11.79 get a report saying it is downgraded to 7.90.

That's where lack of credibilty comes in MASLOW...not from our fearless leader who may have cost the boys at Merril a commission....amazing they even said the assets remained but lack of funding from IPO made it difficult along with lack of managemnent credibilty....had failed to secure a deal they said.....and KAR did..failed to secure it on KAR's terms that's all!!!!!!!!!

What a crock........where is the credibilty in Merril's... i think not...but this is just my opinion and i am wrong a lot.