RE:It is all about the taxes credits.Good post DoubleN
Can anyone name a successful story coming out of Thailand? NOT.
Kris is a pretty big regional player.
Believe me, they knew that the future development of this asset wasn't worth the effort. A small amount of reserves you could have easily purchased near Edson. And this is offshore which is much, much more cost to develop and maintain. And debt to service - wow. Stiff was surprised when the stock hit $3 but now Sean has provided the whole story and clearly the markets is saying, 'another VLE debacle - let's get the %#! out now.' Investors were burnt badly in Turkey and don't want a repeat.