GREY:ROAOF - Post by User
Comment by
tanoon Jan 28, 2009 6:05pm
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Post# 15735159
Sixtieskid RE: RE: RE: Stick to fundamentals
Sixtieskid RE: RE: RE: Stick to fundamentalsYour point is well taken. I am still long as well. I agree with you that shareholders who have bought at much higher levels may not have much to lose by continuing to hold on to the stock and hope for the best. However, any person thinking of buying now should realise that this is far from a sure bet and that they could lose their entire investment very quickly.
Bottom line is ONSL creditors are owed more than $1B, and because of current market conditions, the ONSL assets may be worth less than that. As I understand it, OIL has no assets other than its 100% ownership of ONSL. Furthermore, the possibility that OIL may be held liable for some of ONSL's debts has not been ruled out.