Clearly this sovereign risk type of discount is priced in, it's a really promising story even given the country exposure. My concern which is magnified by this macro exposure is that seemingly the vendors have been handsomely rewarded for this acreage However as the analysts at Foyil have stated the "company has uncommon license type... Which lacks interpretation practice in Ukranian courts though the company is willing to mitigate this risk through licence upgrade to a common production type license once the 2D/3D seismic analysis is done". Now I have invested for many decades and to be frank, I don't understand any of that statement with clarity, why have they been rewarded so handsomely for such uncommon title?, what is the risk that we spend the money and have the prospect taken given the environment that the Op raises??? Food for thought, if someone knows more, please advise.
COD Price at posting:
18.5¢ Sentiment: Hold Disclosure: Held
