Ann: Trading Halt, page-13

With regards to the Philippines and their timeline of milestones.....when has SGC delivered on any of them? None. You know why? Because, in conclusion after 2 years or so, they sold out Nido to Blue S**t.

SGC did three things very effectively:
1. They pretended. Buying Nido for 1 dollar from Bangchak was the first sign of pretension (BTW...that was a bullet dodged very well by Bangchak). Doing a deal with Ed Turd of Manta for Cadlao was the second one (Ed is laughing because he took some cash from them...but I hope SGC have some kind of recourse to sue That Turd). Hooking up with USEC Sales Turd was the third one (I predict he will lose his position soon).
2. Then they lied. They used the pipes buying and the photos of the drillship and the PNOC announcement to prop up the stock. Lying about the EWT being imminent. Lying that they will operate Cadlao and suck out all the oil with an FPSO or FSO and dry wellhead or whatever diagram they spewed out to the market.
3. And then they lied again. How? Because they sold out. That means they have exited the Philippines but with a "just in case" option which will never happen. PNOC should never do a deal with them because it simply does not make sense to throw good money after bad. Just wait for the contract to expire and revert to the DOE. PNOC by law can simply just take it!
And yes I do have the hots for them. I cannot stand liars and ponzi schemes. Makes my blood boil!
And finally, just look at their balance sheet guys. It is a clear example of trading insolvent.