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re: safe as houses... Trade4,The flip side is that Bula is...

  1. ian_whitchurch
    2,834 Posts.
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    08/10/04
    13:20
    Post #: 607626
    re: safe as houses... Trade4,

    The flip side is that Bula is reasonably cash-positive, and between it and Oseil they get a nice increase in cash each month.

    Oseil alone covers their admin costs, but it doesnt allow them to pay for a drill somewhere each couple of months.

    Nope, if they sell, it'll mean a cash return to shareholders. I actually wouldnt be surprised to see Lion asset-stripped completely - sell Bula and the rig to whoever, sell their 2.5% of Oseil to Kufpec, and then give all the money back to shareholders.

    Ian Whitchurch
    LIO Price at posting: 0.0¢ Sentiment: None Disclosure: Not Held
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