Sovereign risk certainly is a point of concern, but it seems that both BKY and ENUSA have re-confirmed their commitment to going forward with this project recently.
With legal and technical reviews progressing currently in parallel, I certainly hope that something can be settled shortly. BKY seem to be bending over backwards to prove that they have provided a robust study. Hopefully Tecnicas Reunidas, agree with BKY, and tell ENUSA that everything is fine and to stop being a jerk.
I'm confident that BKY have provided a robust study, as Brendan James seems to have been around the industry long enough to know a dodgey study, and he seems committed to it with a relocation to Spain and everything.
I was in Spain a few weeks ago (I live in London) and everyone was whinging about the economy, about how housing is stuffed and there are no jobs. I would have thought that the Spanish govt would do everything they can to progress investment in Spain. But I guess they prefer peeing everyone off first. No wonder they managed to put the 'S' in PIIGS.
Choice
BKY Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
