Ann: Liquidators Appointed, page-9

Wait for it.


I’d say within 3 months. They will find the money to payout the bondholders. Liquidation will then be suspended

Also note, oil price hadn’t been kind to them for the past couple of year. However, the last 6 months. Have been really good.


They have 120 mil cash. Use as working capital. Divide that by 917 mil share. It work out around 13 cents per shares.

cash use as working capital, not free float cash in the bank..


The majority holder/owner hold 80% of the company. There is no way he is going to let the company be liquidated


Even if liquidation were to proceed, owner will/should be cooperative. Because he own 80%. So it is in his interest to get the best possible price for the assets.... why steal when you can get you cash the legal way..

it should also be note that owners, never sell a single share in the past 3 years..

bondholders were the sellers.

IPO at 20 cents was overpriced, this should have been IPO at 10 cents. Bondholders swap debt for shares at around 6 cents, just before IPO.

My guess is, we’re looking at around 10 cents per share return if liquidation proceed. However, I think it is very very unlikely liquidation will proceed.

iam in at 1.9 cents, liquidation payout somewhere between 5 - 10 cents will be wonderful. can’t complain.

unlike XPD, i don’t think there is fraud with this company.

PEZ float on the asx, so they could cancel the debt