Unfortunately the TYK press releases from late last year have been deleted from Quote.com where I follow them, but as TYK began to rise there were repeated disclosures, as required, of intention by the Lundins to sell stock at any time.
Come to think of it, although I continue to hold a couple of hundred shares of TYK I don't think I've had a scrap of paper in the form of quarterly or annual reports that I can remember.
Your are free simply not to believe my impressions, of course, but as a person who has been actually holding and following these stocks, my impression is that they are being used (and there is nothing wrong with this from the company's point of view) to raise capital for exploration and for acquisition. I think it's pretty clever to draw in capital for these purposes from a great many speculators, but I do not think that we speculators should imagine that anyone is acting on our behalf. Well established companies that are paying dividends develop some sense of responsibility towards shareholders, but companies at the starge of development as the Lundin Oil company, where the officers are in large part the owners, aren't near that stage.
I think that the Lundins are very intelligent oil geologists and good businessmen, very adventurous and courageous, and honest. But they are naturally going to act in their own interests, as we all do.
Are you also a stockholder in Arakis? (as I am). From the Arakis point of view the Lundins look pretty aggressive, eager to acquire control of the company and its Sudan concession at a price much lower than current stockholders had hoped to realize. |
