Forbes Gets Happy New Year ! I suspect Forbes will exit Kurdistan in 2012
Say good by to LFD and Vast; they will probably merge and be taken out.
Kurdistan, like the North Sea, is a big boys play.
Kurdistan is no fun place for venture capital.
Kurdistan drilling is far too complex for small venture capital companies.
WZR, JVd with Talisman, who had extensive experience in the North Sea drilling high temperature, high pressure wells. They truly got screwed up drilling.
The experienced Lundin is having no fun with SHAMARAN, they want to be a consolidator of Kurdistan, but they can not stop printing paper to keep the drill running. But Lundin does a great job for small shareholders, they will win in the end.
Kurdistan certainly took the shine and polish of NIKO management.
These disadvantages play into the high valuation that LFD will get; because LFD has shallow oil that can pay for complex drilling of companies like VAST.
LFD has the prime real estate and Genel knows that.
I expect Forbes to Exit Kurdistan and it will be a Happy New Year for all !