How many months now has SGC bragged about having a drillship to...

How many months now has SGC bragged about having a drillship to do the Cadlao EWT (but no rig contract hmmmmm)? And in the end, they sold out. Predicted (they knew they could not get an extension of the Feb 2024 SC deadline - too obvious - NO FUNDING ANNOUNCED - not one cent of funding a POD or EWT!). What about the PNOC deal? Aug 15 the new deadline? Two days from now. Could still happen? Or perhaps extended again?

Get real everyone. PNOC can nominate this block next year and get it for free. Why bother with Blue Sky? And if nothing happens? SGC gets nothing as well! They only get money if Blue Sky does something...and they are not even recognised by the DOE as an Operator.

What we are seeing now is the SGC smoke and mirrors show. The reality is that they had to sell because they need to shore up their balance sheet before the creditors come knocking. And they will. It is without a doubt an insolvent balance sheet.

Could Nido/SGC execute the presentations of Q1 last year? The presentation with photos of pipes and an awesome timeline chart of all their empty promises? They never could (Cadlao was just for show, the whole thing was just for show (54A and 58 included)). Share price is the obvious metric for their failed attempts at running a company that pretended to know about raising funds, being an Operator and running assets in far off Philippines. Look at the history of Nido since the late 1990s and you will see why it is a failed enterprise.

But hey, look on the bright side...they have pipes and a brand spanking new awesome MD.