RE: 20-5-26 volume24 May 2026 07:25
Saga man,
I will post when I want, thanks for your concerns, I also could not care a jot about your hug n hold accounts etc, they are as creative with them as they are with everything else they do, all that ultimately matters is, are they profitable after all their Opex, Capex &debt management ? and prior to suspension the answer was obviously a big fat NO,
They did what they needed in the field with the help of some of that generous loan and almost ALL remaining cash, paid other debts via dilution, and at t the end there was nowt but a few sheckles left in the lose change dish. THAT is the physical end result, which at t that time would put this as unsustainable, or not a going concern, now the hand of Trump is helping them at this time, BUT that is going end very soon, prices will head back to normal with a bump, and this lot will have to stand on the remaining true performance and revenue merits of this undermined asset, which I suspect is part the reason their keepers, sorry, creditors have not allowed a deal to be signed off, purely because you cannot base a bad debt repayment plan on anomalous revenue prices, and I also suspect the post workover production is a little underwhelming too !!!!!!
Anyway conclusion of this mess will be felt soon enough I am sure, lets hope they can keep the production at these levels long enough EHHHH pmsl