The only explanation to this sale is clear now after whats...

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Prsrizdair

100 Posts.

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18/06/20

14:25

Post #: 45301181
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Originally posted by J L: ↑

Thank you Luckystrike and noairbags for your responses. I am wrestling with the word “hastily”. Is it appropriate? As you rightly point out,Luckystrike, blind Freddy could have seen that we would run out of cash and beinsolvent sometime in April if nothing was done to replenish the coffers. And I am not suggesting for a moment that we shouldtrade while insolvent. What I am sayingis, what were they thinking at the time. They seem to have pinned all their hopes on the TO bid. Did they have a contingency plan if thingsstarted to go bad? Did they think therewas another saviour waiting in the wings to bail us out if things went wrong? Were they scared of covid19 and how long itmight last? Did the think the oil and gas industry would be in the doldrums forthe long term? Did they think we had dud company with no ability to get off theground now or in the future and were saving us from ourselves? Or now that theyhad a TO bid did they put management on auto pilot with no contingency plan atall and hoped for the best? It is a bit like what our engineers used to say ofour architects “their designs are so hard to understand that they are specifythe impossible hoping for a miracle” which doesn’t always happen. So, I can onlyconclude that very early in the piece they seem to have made the decision to accept any inevitability,put the future on auto pilot, put all faith in the TO bid and let it run itscourse right up to the wire ie pause of tradingon 30/4/20 (no wriggle room left) , administration on 1/5/20 (All over). Was that a hasty decision? maybe yes maybe no,but if a decision was made to let the TO process run its course without acontingency plan or some sort of rational explanation for us it must have been donevery soon after the TO offer (17/3/20). Sincewe have been given no rational explanation for their actions, I am at a loss. I welcome your opinion regarding my post butplease don’t be too harsh. J L

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The only explanation to this sale is clear now after whats happening in the US, the environment in the magnolia site is full of negativity, to be precise , Louisiana is probably one of the most racist states in the US. You cannot succeed a business in a racist environment period. its better sold then sorry.

LNG Price at posting: 4.3¢ Sentiment: Hold Disclosure: Held
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The only explanation to this sale is clear now after whats...

Top Stories

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