"Armour Energy’s CEO along with other employees of Armour Energy have accepted employment with Armour Energy (Surat Basin) Pty Ltd and have resigned from their roles with Armour Energy."
#So clearly still operating, producing gas and profitable.
"Creation of a creditors’ trust for the purposes of providing a return to participating creditors of the DOCA Companies upon completion of the transaction and effectuation of the DOCA"
Christian Lange was CEO of AJQ since 2022 and now is CEO of ADZ (Jan 2022).
ADZ is private company in Barangaoo, Sydney.
He's solid, very experienced ..... a current Executive Director with Griffin Advisors for last 13 years advising on Gas and Oil Industry.
Where does this leave shareholders? Are we are creditors with a holding in the Armour Energy Creditors Trust?
I hold lots of shares in other ASX IPOs that make NO positive cashflow, such as explorers, and innovation developers whose products have not gained sufficient customer acceptable to be profitable.
I see a bright short to medium term position for natural gas.
Gas prices are low at the moment and the world has proven reserves equivalent to 52.3 times its annual consumption. So it's not critical in supply-demand stress like other resources.
Gas consumption in China was steadily increasing until COVID. I expect a really strong rebound there this year.
So I expect prices to rise.
###energypolicy.columbia.edu/inside-chinas-2023-natural-gas-development-report
Also wars in Middle East and Russia have put a strain on energy supplies, and it is winter in Europe now.
So I am curious to see where a positive cashflow earning company, in a market with active gas production and reasonable gas prices.
Comments welcome. Opinions welcome.
Best wishes with all your (our) investments.
Merc Out
https://www.aer.gov.au/industry/registers/charts/gas-market-prices
