I think I read someplace that the judge wants to get this wrapped up in 2014.
Money for dividends is now being used to pay for lawyers, so when this is over, dividend will be reinstated.
My hunch is that PW and NS will settle before it goes to trial. That will allow PW to pursue new strategy of buying land under solar farms and leasing them out on a long term basis.
Who knows, maybe the "greenies" will fall in love with this stock, jump up price to a premium, where company can then sell additional shares for accretive additions of solar farms.
Here is my bad math on value. I am assuming there are now 45 million shares outstanding.
1) $125 million sales proceeds less $79 million of debt is $76 million or $1.70 a share.
2) when 2nd step of Petrodelta sale is done that is $208 million after taxes or $4.60 a share
3) They had a deal for $3 a share that did not happen, If you go to company presentations they think Gabon is worth $5-$9 per share. But since they had an offer for $3 per share, we have to go with the lowball on this.
4) ??? for balance of stuff in Columbia, Indonesia and China.
When I add up $1.70 plus $4.60 plus $3 I get an approximate value of $9.30 per share.