YES David...you have been listening to the wrong people. Not sure you have the ability to analyze the facts. Believe that you would be better off to sell, if you own any stock, or if not just move on.
david, even major oil companies have wholly owned subsidiaries in the Caymans. It's called smart money management. They can avoid many of the US taxes by doing so. A very common practice.
They may be referring to Feltang who is incorporated in the British V.I., and whom no one seems to know much about (ERHE paid them a handsome sum of $ during the late stages of the PSC signings, particularly for bringing in SNP)
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