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Yep.
Oh dear! PRD chasing CEG cos CEG is a scam/Ponzi, right?
Until October 2021, Potter was CEO of CERL- CERP never really went away, it just became Ltd rather than Plc. This entire outfit flies by the seat of its pants..master's of delight of hand, smoke and mirrors and ingenius initiatives to raise cash.
Can you believe BPC had a list of big hitting creditors but managed to ring fence their only assets in T & T out of their reach- Baker Hughes, Stena Bahamian Govt to name but three.- Still maybe they are actually too big to be chasing for what's effectively pocket money for them, and the BoD guessed that would be the case.
BB
Valid point. This BOD are professional bull she iters.
S.Potter lost the CEO job, because of the above, got a non executive position within the company.
Absolutely amazing to see that this was acceptable and overlooked.
The current CEO is Potters prodigy.
Even the institutions fell for it, recently Merseyside pension fund bought in. If they don't have a clue what chance do pi have!
ZE
surprised you are still on the forum pal.
Willec was Starchild and vice versa, one of the same persons. I couldn’t believe the amount of investors that actually believed in these numpties. They were both BOD members pushing the cause to keep them earning a living on the back of the small investor for over 10years.
What surprises me is that those BOD weren’t held to account for malpractice.
If this is a Ponzi scheme, could you tell me what stock is not?
All EV stocks massive declines since January, most where priced in the $100s without even making a profit. How can they be worth the share price?
Tech stocks huge declines - Snapchat worth $5 start pandemic worth €83 last year currently sitting at $13
Chinese stocks cut in half
Russian stocks completely removed from western markets virtually overnight,
most renewable energy stocks major declines,
They are all affected by one investor getting paid money and one investor losing there money over and over again.
This stock is no different, the whole market could be called a Ponzi scheme as if meets the definition
A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investors
Production is averaging 400 bopd at $80 or thereabouts. So 2021 might turn a profit or breakeven or show less loss. 2022 looks like turning a profit.
That's even not looking at Uraguay.
Perhaps someone who is more researched can explain how CEG operates Ponzi finance? Preferably someone who works with the old lady of threadneedle street.
If this is a ponzi scheme couldn't the directors be sued?
Output
Invest away please in thus ponzi scheme
Burren, no point in calling it right if you are a nickel and dimer or in his case zero. Some peeps go round with display boards saying the end of the world is nigh. Sure in a few billion years, perhaps. CEG hasn't exactly hit a gusher. Just the way it is. The CoS was always on the low side with wildcat "legacy" drilling. It's the rest of use who are mad chancing it. Put it this way, everyone was wrong. He was probably wrong at one point. He flipped on the right but didn't have the courage to short. So, he's psychotic and we are crazy. Happy now? Some called it right and made a killing.
Have a good weekend.
So why does 12bn always call it right?
Burren,
Check out PRD's latest RNS 29th June states:
"· Discussions opened with FRAM Exploration Trinidad Ltd. regarding a settlement to the dispute surrounding the premature termination of the Inniss-Trinity CO2 EOR project contrary to the terms of the Well Participation Agreement."
12bn is psychotic over BPC/LGO/CERP/CEG for years. All this time he has called it right. The mystery is he's not short nor has he ever been short. Not looking like PRD wants litigation rather a settlement. That would depend on the merits of the case they are making.
12bn most likely got burned along the road and has a big axe to grind.
Take a look on advfn. Interesting that 12bn keeps posting about PRD.
Zaq, technically not economically it's the Caribbean; a CARICOM member. To all intent and purposes you lost you pants in the Caribbean sea. Apologies.... my humour can get the better of me. This is what you get for skinny dipping in the Caribbean sea.
They never drilled in the carribean, the Bahamas is not the Carribean, again DYOR
bs vega
A lot of shaking out of weak hands in the markets today in small to medium caps, gonna be a choppy week next week.
This is the interesting part about the Shell and APA corporation acreage: "specialised international companies to meet the proposed commitments is estimated to be close to $200 million" and “must be assumed at the entire risk of the proposing companies” and "In OFF-6, APA will undertake the drilling of an exploratory well within four years" and "CEG sitting pretty on early entrant to its acreage". In the meantime, Zaq can sit pretty knowing that he "might" or "may" be able to retire with a nice pension - that's if he didn't go for a fire sale in stocks.
Zaq,
Au contraire! If you did your research you would have lost your pants. Did you lose yours in Caribbean Sea?
Willec, what a tool and never got a single thing right.
Anyone who invests here deserves to lose their money as they haven't done their research
The old buy the rumour sell the fact play!
Think there is an illogical view to keep averaging.
I am going to keep a eye on shell in Uruguay if they find anything in there patch this stock will gap up without warning, it’s a clever play for ceg let shell spend its cash searching and mapping out the area any success will help this stock just through expectations of a find in ceg acreage it’s a nice little ace card. Meanwhile focus on production of existing fields and cut costs, oil prices are likely to stay high for the next two to three years if Milton Friedmans explanation of inflation has merits based from the 70s.
He's another crazy like use.