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There's been no update to the press release of 6-25 in which a Ministry of the Turkish government pronounced a moratorium on the inflation clause under which oil companies doing business in Turkey were protected. This is really nice, and indicates they have a commercially viable field there in Turkey, but until they can be sure they're going to receive full, inflation-adjusted value for the oil we can only give a half-cheer, at best. I was going to speak with the Company this afternoon, but when they returned my call, I was pre-occupied with a few alligators of my own. I'll call again in the morning. The person selling the 1,000,000 shares may be doing so precisely because of the payment value uncertainty. Aside from Turkey, the only other "live" thing they seem to have going is the play in Trinidad. But at the current price, especially in US$, it's one hell of a riverboat gamble. |
