Everything that could have gone wrong, went wrong. The assets are now owned by the bank and creditors
Poorly managed company with very slow decission making , unable to react that have wasted a Great future.
Great example of how a bad management can destroy huge value
Deeply undervalued stock, as a result of a poor operational performance and comunication since de IPO.
Facing potential highly dilutive capital increase
I believe the stock is worth at least NOK 1,5 and it's likely to be a lot more.
Proven reserves that could generate more than USD 2.000 million revenues.
Great discount of value of reserves per share
Catalyzer: New CEO has a operational profile and is starting to obtain results.
Things to keep in mind:
- High level of debt (380 million) See how do they refinance the company.
- Outsider probably bought minority interest in the assets of the company, (25%+7%) for 217 USD million. This is a valuation of the assets of the company of 678 million, de debt is around 380 million plus pending payments to Petrobras of 153 USD million, leaves a valuation of 145 million, or 2,79 NOK per share.
- IPO to Brazilian market. See if they are able to do it and how dilutive it will be.
- See if they get an agreement with Petrobras to postpone the payment of 45 million at the end of the year.
- See if Petrobras finally fixes pipelines so that they can sell their oil as VLSFO

Seacrest Petroleo Bermuda is worth 0