Hi croasian
That's a load of crap.
The balance sheet was repaired at $3, at which time the lack of investment in the industry was setting up the present recovery.
All that's changed is that the oil price and people's attitudes toward the company.
Management are as retarded now as they have always been, efficiency my ass it's been a holocaust of their skilled employees/contractors which will cost a fortune in retraining and scrapped/underultilused equip
Could not agree more with your sentiments.
I wish people would stop saying the Directors repaired the balance sheet. Share holders repaired the balance sheet.
But is the balance sheet repaired? Replace debt with capital. What has exactly changed as far as the balance sheet is concerned? Has the asset backing changed? Two sides to a balance sheet not one.
Contrast STO with FMG as far as being able to repair balance sheets.
Pear
Expected LNG surplus evaporates!!!, page-21
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