View
Page
Maybe its badly worded , but the Sens today from SAC indicates they are in negotiations to cancel the agreements on one of their Nigerian assets. Althought this seems negative at first glance , its actually not a bad plan, I'm sure the asset will be OPL 281 which is still a long way off any sort of production, has yet to get perfection of title passed to SAC , and will require significant cash flow to become operational. At this stage SAC cannot afford to raise more capital at these reduced share prices. However by selling this asset even for the amount they paid ie: $12.5 mill , the net result is they can use those funds to for near production assets which is the Dr's goal. similar to the Mena deal
Latest from the Community...
Latest from the Community...
Latest from the Community...
