RE: News!!! TLF sells Shares for $5.5 millionManagement own a huge whack of TLF shares, and it looks as though they are finally starting to unlock the tremendous value of it asset base.
Telford has agreed to sell all of its common shares of North West owned by Telford, as well as the Telford shareholder advance to North West and management fees owing for $5.5 million.
Previously, these NWG shares were given little value in TLF's market cap.
This transaction alone converts those assets to $0.28/share in cash or nearly equal to todays market cap.
In addition, TLF is trading at just 1 times 2006 cash flow, when most other oil service stocks trade at 5+ times cash flow.
That is, its fair value even before this transaction would be well over $1 /share.
Although an oil services company, it is a bit different in that it owns/leases a fleet of aircraft that provides transportation and freight services to the oil/gas industry, and has a significant presence in the oil sands niche.
Annual revenues are about $20 million....
Hopefully, this process of unlocking value will continue as management finally begin to pay attention to share price....