I know Little Joe and it really sucks and that is why we were at 1/8 for such a long time and thank god we got in at that level..
However, if you dig up further, that by acquiring Okon, RNTK managed to increase revenue remarkably and cut the losses from last year,, reading further on the financials, we can also see that there is a light at the end of 98 tunnel, where RNTK management said they will be in black just with current plans with out the Texaco or any other GTL fees....
Now the semblance of knowing this is that the current balance sheet still represents current fair value of the stock....
Remember it came out as an IPO at 5, early 90s,, think of those folks... <<gg>>
Also agree if we dont get the Texaco deal we will suffer, but then only short term, perhaps down to 3/4. But dont forget there are other players out there who has interest in RNTK.
Further reading on Texaco press releases, we are all confident that RNTK will most likely get the deal.... still, its better to be cautious, I agree.
As for management, from meeting them I feel they are very kosher and knowledgable in their business as well as being a generally a good human beings. (A criteria I highly insist on )
We feel soon Little Joe, the fat lady will sing ...
Big Joe
;-)
|
