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26/07/22
15:42
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Originally posted by IBoesky:
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Three things from this announcement that has vindicated my assessment of SGC: (1) Drilling in the Philippines by July 2023 at best (I have no words to describe the word salad they are giving the market). This is a vindication of what I have been saying all along. Nothing..nada..no drilling this year...perhaps next year. And now it is clear that it is PERHAPS in 12 months times. Repeat...NOTHING this year. Regardless, Nandino is clearly their focus because SC6B is expiring in Feb 2024 and there is no time to remedy that timeline/expiry. Relinquish and renominate is the best they can do with SC6B. And by the way...who is running the show with SC 54A? Correct me but SGC are diluted to 15%? If so...a word...pathetic! (2) What happened to Cadlao? Well, based on this latest announcement Cadlao is no longer the priority. But how are they going to stay in the game with Cadlao? I do hope that they relinquish and renominate. (3) What happened to that LOI with the Murmanskaya...this is too hilarious even for Mr Ponzi. So impressive ... as I pointed out in a previous post the Murmanskaya rust bucket was no longer available despite SGC announcing they have an LOI with that rig. And boy oh boy...now they have an aswesome drillship at their disposal. So much negative working capital on the balance sheet, no funding announcement and yet they have a drillship at their disposal. That day rate alone should reach Ch 11 in record time. Still waiting for the DOE approvals of this FIAs and the site survey campaign. Time for coffee smelling time.
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It appears that you either 1) didn't actually read much of the announcement,or 2) were not able to properly comprehend some of the portions you chose to comment on,or 3) are not easily embarrassed.