That was the Annual Financial Report & not the Annual Report that'll be sent to shareholders.There'll be an operational report/plans in the Annual Report.
The stock has cash of $8.7mil or 14c/share plus the Seram JV interest should still be worth $6mil(10c/share) plus their share of the GOM Rydgelake JV could still be worth something. Management connection with ETE might also benefit them in the future - ETE management owe them a favour for the Sth Marsh duster.
Undervalued now & will look to be a bargain once management's plans are released.
That was the Annual Financial Report & not the Annual Report...
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