With regards only to the Philippines....from June 2021...more than two years ago (when Bangchak did a doozy by offloading Nido and its financial obligations to SGC for a buck). What have they achieved in relation to what they have promised in their wonderful timeline chart of EWT by June 2022? At the very least, can they not apologise for lying (maybe lying is too harsh a word but seriously what have they done since then)? Nope...instead they hired Superstar Kane to steer the company to greatness. If you know O&G and drilling contracts.....best case is that they will drill in March next year. One month after the contract (SC6B) reverts back. PNOC are doing nothing with this except PR. It is nearly Q4 2023 (1 more month left to go) and nothing about a rig contract being signed or funding in place. USD 100 million at least is needed if you want to get all 6 million barrels out of the hole.
SGC Price at posting:
0.5¢ Sentiment: Sell Disclosure: Not Held
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