Ann: June 2023 Quarterly Activities and Cash Flow Report, page-6

Looks like the balance sheet is going to look worse this year (surprise surprise). Working capital is more negative than ever.

SC6B reverts back to the DOE by Feb 2024 and yet SGC now mentions Q1 2024 as their drilling window/target (are they serious? or do they have some inside knowledge they are not sharing with us with regards to having some "way" to get the extension?).

A drillship that is being prepped for work and yet no announcement of a drilling rig contract having been signed (what is the lead time on getting this done and on site by Q1 2024? 6 months maybe if they are lucky and thus the contract expires). DOE is not liking this (I imagine). Hence why SGC have never once mentioned about the deadline of the Service Contract (which is the end of the last extra 15 years granted in 2009 by Sec Reyes).

Apart from Nido having an FIA with the Filipino JV partners, there has been nothing in writing from the side of the government. No DOE and DENR approvals, no mention of an ECC and an EIA or even a discussion with the Palawan Council for Sustainable Development.

Looks like copy and paste to me except for they things: they hired Kane, sold some North American stuff and sold Nido. So much for being an Operator.