Although I'm not sure they could have anticipated it, selling a large part of the FOGL stake may yet prove to have been a good decision. FOGL closed at 93p in the UK last night. As I recall, GBP sold a large part of its stake in FOGL for 120p+ ? Given the change in the market dynamics, where it appears cash is king, I would hope that the management of GBP will soon apply the FOGL sale proceeds to some under-priced oily assets which are just ripe for the picking!!
GBP Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held