Oversold, company is reopening for business, costs reduces, CFO to be made redundant & Group Financial Controller will adopt the responsibility, saving on a large long term salary and pension. Hopefully, they'll adopt a better hedging strategy long term to deal with drops in oil & gas prices.
ALL SELLS. ASSETS REDUCED DUE BY £83M WRITE OFF CARRIED OVER YEARS 2018+19, LEADING TO NEGATIVE 41p EPS. ECONOMY IS FALLING APART. OIL COLLAPSED BELOW BREAKEVEN. MASSIVE DEBT BURDEN IN CORP BONDS ISSUED (CONVERTIBLE TO 50M+ SHARES => DILUTION RISK).
Conservative Gov In, Expect positive queens speech, expect instability in middle east and Russia to continue, expect political support to support job's in north and provide replacement tax for dwindling north sea. well capitalised following INEOS farm out, expect takeover interest in short/medium term, good cash generation from 4yrs onwards if not taken over, see upside of 10x if items line up.