Ok, so maybe, just maybe this time the worm has turned.
After what can only be described as 2 years of hell spiral, poor management, deals we couldn't afford and the lending of shareholders money to "mates" for slices of other failing oil exploration companies, a change at the top has finally made a difference.
Almost daily RNS's have followed, skeletons out of the cupboard, the undoing of years of waste and bad financing, at a pen stroke, the debt is gone, company refocused on Trinidad asset and the world looks a lot more rosy.
i13.photobucket.com/albums/a272/ademcg/RRL_05June2014.jpg
On the announcement of the Abrahams cash I took the plunge (0.70p) and averaged down my long lost position.
Now things are hotting up with talk of the divestment of several non core assets, this could soon be up again.
I would love to hear guys thoughts on this one.
The sp closed above the 200d MA for the first time in a long time, it may be in for a pull back having had a great run, but I think this is the start of a genuine re-rate.
Best of luck !
