The divestment of Alberta Plains and the Philippines assets has significantly strengthened the balance sheet, reducing the rehab provision by approx $25m.
They have divested these assets as they have better and more compelling opportunities in the pipeline in the near term (pardon the pun) imo.
Backed the truck up today. I believe big plans are in play, happy to see how the next 6 months unfolds with a new MD on board and cash in the bank. They obviously want drilling activity to occur soon to generate some excitement and share price growth!!
"SGC has short-listed, near-term drilling options in its Alberta and California Areas of Operations and in new venture growth opportunities.”
“The sale of Nido will enable Sacgasco to refocus its search for growth assets that can make a greater contribution to near term shareholder value.”
Ann: Philippines Assets Sold for Cash, Royalties, Back-in Rights, page-25
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