Ann: A$630k Share Placement for Philippines Projects, page-6

Recall the following:

1. SGC announced a deal with Bangchak in June/July 2021 to purchase Nido for a dollar. They get SC 54A and SC 58 plus a seat on the SC 6B (Cadlao) bandwagon. SGC share price nearly doubles to approx 6 cents. Hahahahaha. What a farce!
2. SGC announced a deal with Manta's Ed Turd in Dec 2021. Nido now big boss on Cadlao. With Blue Sky? What happened to them? Share price - nothing burger.
3. Subsequently SGC in Dec 2021 also announced a Cadlao EWT by June 2022. First with a Drillship and then with the rust bucket Murmanskaya, then back again to a drillship (I guess the Murmanskaya is now being used as a coral reef?).
4. EWT announcements ad nauseum in 2022 and even in 2023.
5. Pipes being bought (but these are of course old pipes from the old Nido Yakal and Tinadalo drilling failure campaign - Batangas storage facility for rust buckets). Pipe dream perhaps.
6. President Marcos and USEC Sales turd announces Cadlao is going to be drilled by Dec 2022 on an EWT. What a joke! Here we are nearly July 2023 and all we have is a USD 500K salary prop up! C'mon guys! Can't you see what is going on here! As one poster said....Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi.....scheme.

Here is the problem:

1. Raised working capital of USD 500K will not cover their negative/insolvent balance sheet situation.
2. They have not once announced a mobilization of a drilling rig or ship with 8 months left to go on the SC 6B life. They merely hooked you in liked compliant fish.
3. They have not announced anything about the other SCs that Nido is controlling. Because they have nothing on them.
4. The DOE have not announced anything related to SGC's SCs nor has the JV partners. Because they have not approved any of the applications of SGC since Day ONE. Why? Not funded!
5. They still need to raised about USD 100 million to drill Cadlao. Hmmmmm funny that.

As I said before....the next chapter in this story is Chapter 11.