Member Info for Colindash

I have said it many times, it has nothing to do with PSC extension. The company has no gas. It has no money to drill new wells. It has a huge debt. Please tell me what am I missing?

Just scan Nov and Dec comments by stew200 and Dzygit1980 and Bobat1234 and others who were talking about 100P or 5x etc. Where are they now. I can see shares trade at 0.5p next week. Ask JPjenkins how easy it is to sell shares on matched platform at 0.5P. Take a deep breath and offload ASAP.

It is clear that Laura2022 has missed reading the Sep balance sheet. On page 2 of 12 it clearly states that the assets are already drilled wells. They are matched by liability of the loans to pay. The only outcome will be the share will trade at 1P and then there will be demand from all shareholders to pay 10P per share to drill the next well. Would not touch it with a barge pole. Please read the facts carefully.

Stew200, I dont know where you been, but wake up and smell the coffee. The issue is not of PSC. The issue is geologically they have had too many failures. The debt is over 900. Current production is next to zero. To increase production they have to raise money. You tell me what i am missing. Even 1p is too much for this share.

Roxtonroxton the main problem with this company is not PSC. The main problem is that there is no gas. To get more gas many many many more wells will have to be drilled. Neither equity raise nor debt can raise any money. The game is up. Please tell me if I am missing anything?

I have been warning that there is no future for the company.

Has debt of nearly $700 million + bond of $150 million its not even worth 1P.

Gentlemen, what to make out of the shares after this morning’s RNS:

1-Revenue halved

2- Govt extension still not there

3- GAIL arbitration expensive

4- Current production almost zero

5- No further wells planned

6- Will raise more shares to drill more wells

Should I sell or hold? Please advise.

Https://economictimes.indiatimes.com/industry/energy/oil-gas/ongc-directed-to-take-charge-of-vedanta-oil-block/articleshow/124055355.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

The government has directed state-run Oil and Natural Gas Corporation (ONGC) to assume interim operational control of an oil and gas producing block from Vedanta after rejecting the latter’s plea to renew the oilfield contract. Vedanta, which produces about a fifth of India’s crude oil output, challenged the Centre’s move in the Delhi High Court on Monday. Justice Sachin Datta recused himself from hearing its plea, and the case will be listed before another bench on Tuesday, said people familiar with the matter. This is the first instance of the government denying an oilfield operator’s contract renewal request. Vedanta’s plea for extension of its Barmer block in Rajasthan had also been held up for years, leading to multiple court hearings. While that contract was eventually renewed, its terms remain under judicial challenge.