No, oil collapsed four years ago. If you not aware of the actual...

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jwhiteman

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03/06/20

16:36

Post #: 45014413
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Originally posted by Homerun78: ↑

Thought you were ready to move on. There we go again its always about external factors it amazes me what length you are willing to make sure the Management and Board is not dragged into this discussion. Why would you do that? Mistakes and weakenesses should be highlighted.

a) Energy Market Collapse - That only happen Feb this year and it actually made US LNG prices even more attractive and relevant since US LNG is not tied to Oil.

b) Trade War - This is only in reference to China and i have made it clear in my previous postings no competent management out there will put all its eggs in one basket. Thats commercially unacceptable. Any junior developer could tell you that. Unless the management has no clue on how to develop projects commercially viable.

c) COVID - 19 - Its a joke that you have listed this as a reason of failure. Actually in hindsight Covid-19 gave Magnolia 45 days of liquidity extension since the US govt provided Paycheck Protection Program funding to Magnolia LNG to the tune of US$350,000 somewhere end March/early April all thanks to COVID - 19.

Again as mention in my previous postings you cant use asset/project sale valuation under admnistration as a true reflection of its valuation. Please look up the definition of firesale and previous examples of an asset sale during administration. Its always as good as a give away.

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No, oil collapsed four years ago. If you not aware of the actual macro factors then you really shouldn't be dismissing them.

Oh and calling $2M a "firesale" price is hilarious. It was a giveaway because the project has no value.

LNG Price at posting: 4.3¢ Sentiment: None Disclosure: Held
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No, oil collapsed four years ago. If you not aware of the actual...

Top Stories

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