UK 09:54 Tuesday, 6 October 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The supporters of the trainwreck IPO that is Lenigas Cuba (CUBA) argue that by clever acqusitions Jabba The Hutt will increase the NAV. Net assets currently stand at c 0.65p per share IF one assumes that £1 spent on acqusitions is worth £1. I would argue that it is not and shall demonstrate why below.
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Comments
DUCK AND DIVE
CUBA shareholders should be careful what they wish for.
“Cuba’s oil is difficult and costly to produce and process as it is extra-heavy, with API gravity between eight and 12 degrees, compared to the 34 degrees of the Gulf producers’ light oil.”
http://www.ipsnews.net/2015/10/cubas-extra-heavy-crude-awaits-technology-and-investment/