GREY:ROAOF - Post by User
Post by
2511MacDonaldon Mar 29, 2009 3:49pm
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Post# 15880265
Value of the Company - Shell Company
Value of the Company - Shell CompanyPremier Oil of the UK got a great deal on these assets. It sold for about half of what I thought it would. The value going forward will be as a shell company with $1 Billion in tax losses. At $0.10 per share, the market is valuing these tax losses at about $22 million. Very sorry to hear that the unsecured creditors have not been paid. I would have waited longer to effect a sale that would have paid the debts owed to these good people. It could have been done with shares and new debt. The UK laws are different than Canada I'm afraid. Although this deal wasn't successful, I still may visit Aberdeen this summer to sample the best single malt scotch in the world.