Q: your answORC.B is quite small, and is the 'stub piece' of a company that was sold (Pan Ocean, by the same management) many years ago. So, the team has built and sold companies before. ORC is very small at $55M. Earnings have been up and down, and it currently has $60M net cash. Insiders own 18%. The company has been in a long running dispute with Tanzania, but this was settled this week with more money coming into ORC for natural gas sold in prior years. This is positive but highlights some of the political risk here. Two analysts cover the company. Shares have really underperformed, down 33% in ten years. Despite the pedigree of management, we would have little interest here, though certainly the company could get more active with its cash and this could spice things up if it were to do so. er was
I am wondering why dont we take the company private for no cost and stick 5 million in our pockets. Do you want to go 1/2 and 1/2?
I am wondering why dont we take the company private for no cost and stick 5 million in our pockets. Do you want to go 1/2 and 1/2?
