Ann: May Investor Webinar - Presentation (correction), page-46

EWT slated for June 2022....nothing burger. Drillship...nothing burger. Blue Sky and Ed-turd and Nandino...nothing burger. Prove me wrong SGC....wait....I proved you wrong. But hey....you did promise the Phils Prezzie, the second coming of Marcos, and the DOE, supported by your pal USEC Sales (be careful what you wish for) that you would have had an EWT by now on Cadlao. But Q1 2023 is over and now you are slyly going to lure the market into Q2-2023 (be careful with the Ombudsman). But unless I am mistaken, if you had a rig ready to do the deed you would have announced it by now (just to help your market cap go from ludicrously low to ridiculously low). Unless of course you can go from cold stack to warm stack to mobilisation to ECC certificate to Palawan approval to blah blah blah blah blah in less than 2 months (keeping it a secret from the market, which makes no sense since you share price is in the s****er compared to the time you purchased Nido from Bangchak, not to mention the negative working capital hole that cannot be plug by your cashflow from you other assets).

Gents, the only thing physically real that SGC has done is their claim that they have bought some pipes. These pipes (photos they have shown I believe at least twice) looks like leftovers from the Nido Yakal and Tinadalo campaign from more than 10 years ago (pictures look like from the Batangas supply area - in other words, useless). These were de facto owned by SGC after the 1 dollar (recall the movie Trading Places) deal to buy Nido off Bangchak (well done Bangchak for getting rid of you liabilities). The pipes were always part of the Bangchak deal.....everyone knows this!

What chapter are we in this book? My guess...11.