This play is becoming more attractive by the day... ...from Auctus Advisors...
"Following the tax payment, Valeura held US$121.6 mm in cash and US$30.7 mm of debt at the end of June. We also anticipate that the company is carrying an important non-cash working capital surplus.
With the large 2022 tax payment now made, we anticipate Valeura’s cash will start to build up. At US$78/bbl over 2H23 and 2024, we forecast that the company could hold >US$160 mm in net cash at YE23 (slightly above the current market cap) increasing to ~US$360 mm at YE24 (~2.5x the current market cap)"