deadcat

suspension: possible dispute re the US$7.5m due to TPET under the terms of the FOA. The cash flow RNS stated those receivable funds would "probably" be offset vs. drilling costs. A gusher would 'probably' have required that offset, but not the dry hole. GALP may be arguing that those funds should be offset against initial costs - rather than costs in excess of the free carry of which there may be none as the hole was dry. US$7.5m equates to c. 1.8p/share or 75% of the last closing SP, which would help! And then there's the US$3m bank guarantee.... IMHO & DYOR and we need some luck!!

Surely its simpler and therefore quicker to phrase a negative RNS and more difficult to phrase a positive RNS so as not to mislead the market..............? Sweet (light crude) dreams all (in the UK).

All good things come to those who wait...........

MCap vs. MCap TPET has almost no relevance to GALP SP atm and even a TMA gusher would not have GALP BOD renewing their Bentleys. There was no suspension prior to Assaka duster RNS and consequential SP decline - WHAT EXACLTY de we think the current suspension implies, prior to (presumably) a TMA RNS? vGLA.