RE:RE:It is all about the taxes credits.stiffupperlip wrote: 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.
Not many ladyboys in S-hole Edson.
Maybe proximity to the most expensive pipleine in the world at $40M / km is a benefit though LMFAO.
No one will invest a dime in canadian O&G aside from snow washers, locals and gov't funds - note the flight of international players in last 8 years that drove the industry since inception.
Everyone wants off shore simply because rules are different and ecoterrorists can't afford vessels to block anything. 3-5th world is better because they need the royalties and taxes plus have the armed forces to squish woke communists.
VLE is 80M water depth which is nothing, unlike the other popular offshore that's hundreds and thousands of metres costing 100M to drill and multiple B to produce at commercial levels.
For small caps the only opportunity really is legacy fields in decline in 2-3rd world countries but not Canada as a second world going on third (if you remove the 185% debt that projects weath.)
A lot of folks are scared of Thai defacto military dictatorship and China's suprpassing USD economy on PPP basis, but its no different than bannaa countries like Canadian dictatorship or Africa and LatAM (both very popular) military Juntas.