GSS Energy's oil thrust: fool's errand or visionary's touch?
Jury's still out given that uncertainty over future cashflows is tempered by bottoming of oil prices
Add BT as a preferred sourceROWING against the tide makes one either a fool or a visionary. And into which category GSS Energy falls is the question investors are trying to answer.
Armed with a substantial cash hoard, the precision-engineering group is braving the sea of red in the oil & gas sector to venture into hydrocarbon production, just when most others would prefer to be reducing their exposure to the volatility of the sector.
The firm, which secured a contract from Indonesian state-owned energy giant PT Pertamina in November last year, expects to produce first oil from the Trembul field in Central Java by the first half of this year.
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