Opinions
Rick Rule
Meren Energy
MER-T
PAST TOP PICK
Jul 02, 2025
$1.680
Stock price when the opinion was issued
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(Name changed from Africa Oil on 15 May 2025.)
Bought out joint venture partner in Nigeria. Has begun the process of decapitalizing. Generates substantial surplus cashflow, which it's returning to shareholders via dividends and buybacks. Market is nervous about Nigeria, as it should be. Controlling shareholders have been reducing their ownership. CEO, whom he respected, has resigned.
He continues to own it in the hopes that some of the cashflow can be directed to exploring the extraordinary potential in the country.