Are Walter and Wright CROOKS ? I think NO.267 million shares outstanding (excluding the 109 million shares of Maurel).
100 million shares belong to the insiders (Walter, Chairman own 53 million shares) and some funds as shown at Morningstar.com
The remaining 170 million shares belong to the retail investors, you and me.
So I believe that Walter and Wright will not shaft the retail investors considering also that Tuscany's fleet in SA is modern and new and SA is in the midst of a growing drilling activity YOY.
From Colombia and Ecuador, to Peru (see the news from GTE), the drilling CapEx rises YOY. Even Paraguay drills for oil and gas. So the prospects in SA are bright for any suitor.
Walter and Wright are not crooks imo. They are also old enough to ruin their reputation.
Even at 20 cents, PBV= 0.3 which is a bargain for any suitor to acquire all the shares of TID.