Been involved in this for a while and its been a bit of a roller coaster

SP was 20p+ 12 months ago but slipped in early 2010 with poor results/delays etc

On May 1 2010 its main asset in Bolivia was nationalised the SP fell to 8p, the government has promised to pay fair value compensation

There is a treaty between Bolivia and the UK other energy assets were seized too with French part state owned company GDF Suez also involved

This may be resolved around the 13 November as this is 6 months since the company served notice it could be earlier and 47M already penciled into recent accounts resulting in a 17M profit.

The SP has picked up towards the 14p level as institutions mainly Sterling investments now with 29% total institutions share holding is 87% have been hovering up any shares some at decent premiums

The valuation is likely to be 20p+ again when this is sorted along with positive news from their other asset in Argentina. regarding tariffs and refinancing cash flow and profitability more news on this is due shortly.

I know there isnt such thing as a risk free share but with the treaty and the problems with the World bank/foreign Investors etc if they default I can only see it going one way, the other thing could happen is they fight over the valuation which may be costly and protracted but Im thinking this is already in the current price

So with good news likely in the next month and little shares in the market and demand from institutions this has to be worth having a look at with some valuations talked about of 35p

I know its a bit brief but gives you a favour of the risks/opportunities

could be sorted this week with Bolivian VP in the UK this week

its on the move today all buyers speculation news due on Thu/Friday with Bolivan VP talking it up on Saturday