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Covid did not make Oil & Gas companies or Utility companies go bust!
If you dig deeper, you will find that operational issues at the plant were costly, probably through the lack of planned maintenance, possibly relying on breakdown maintenance. The global energy costs can have huge impact whether they rise or fall. Major energy companies have cleverly thought out “hedging” strategies to level out peaks and troughs.
The devil is in the detail but it’s easier to say Covid was a factor!!!
Good Luck Earlofaim…I think you are going to need it!
I should also mention that after the new issues of shares are accepted, there will be just under 240 million shares in issue not 200 million as I previously stated…..expect these to fall in the short term and maybe an opportunity to trade will present itself……personally, I will be staying well clear but will be watching with curiosity!!!
“Texas-based, Paradox Resources LLC, has filed for Chapter 11 bankruptcy protection listing at least US$50mm in debt. Paradox’s Lisbon Valley gas plant in Utah has gas processing capacity of 60mmcf/d and helium treatment capacity of 1.1mmcf/d as well as helium liquefaction capability of 0.6mmcf/d, which is currently offline. Paradox owns over 100,000 net acres and operates over 150 wells in the Paradox Basin. The company cites operational issues at its gas processing plant and financial challenges exacerbated by the COVID-19 pandemic and declining natural gas prices as reasons for its insolvency. “
The filing under Chapter 11 occurred less than a year ago with Paradox over 50 million dollars in debt.
Earlofaim, I hope you did some quality research on this because it feels more like a wild punt on Parsons and co……and there are plenty on here who rue the day they believed everything they say to promote this dead dog!!!
Over 200 million shares before the admission of those for the fundraise, a market cap of £4.8m and buying into bankrupted USA stock…. Something does not add up despite the optimistic tone on helium. If it is so good why does a bigger US company not realise the potential?
Way too smelly for me!!!!
What a load of bullocks!!!…some on here need to pull there heads out of there rses and stop imagining worse case scenarios when there is no current evidence other than the demons banging drums in their heads!… ffs stop hanging around this BB and get a hobby or have a drink and relax…😜
Cleanerworld, beware the green eyed monster!
We know that Rishi Sunak was successful before he entered politics. His wife is from an extremely wealthy family so he is wealthy. The “have nots” will never accept that wealth and politics do not always mean fraud and corruption as your post hints at.
As with all UK Prime Ministers, when appointed, Rishi Sunaks investments were put into a “Blind Trust” where the trustees manage the portfolio until he leaves office. He has no idea how the trust is managed….which is the point of a blind trust!… if it’s managed well for him then good luck to him!… but let’s not let truth get in the way of a good story that is twisted by envy!
Amatra, there is a reason why anyone would buy 10 million shares in a company with historically poor financials, no income stream, very little in terms of tangible assets, in a country renowned for corruption and tribal rivalries…. It’s called greed!…I’m not knocking it!… but it does mean that the belief that you are so sure that your poor research and non existent due diligence does not matter. Your conviction that this is the stock that will make you unimaginable rich in exchange for a few grand is absolute!…most of us have been there, the trick is to learn, not just about the markets but also about yourself!…for me, it was understanding that I am a gambler but I had to become a smarter gambler rather than an impulse gambler chasing unachievable and unlikely jackpots!…no offence intended! 👍
Bobby, should it work out along those lines, as you suggest and I don,t doubt your working knowledge, the total asset value that the claimant could seize would not include any cash as the defendant is in receivership. This leaves the “gas field” which we know is a poor producer without the option of fracking / stimulation. It would not be considered as a value asset by any Operator in the region and would therefore be difficult to unload for anything other than a bargain basement price. Any cash raised would have to be split between all the recognised creditors. I am sure that when and if that happens, Geoenergo will ensure that the asset is not liquidated as a going concern.
“Record Date for eligibility for potential proceeds from the claim against the Republic”
It’s a blag!…pathetic attempt to inflate the SP.
AST think they can fool the market by maximising the word “potential” when there is the reality that the Slovenian government are not going to underwrite any compensation!… they know it… you know it… we all know it… dry your eyes and move on!
Jamboian, …assuming that when you identified Scancell in 2019, as you stated earlier, you bought at around the same time. If that was the case, why would you be “too far under” when the SP never went above 9 pence in 2019?
I know this because I also bought into Scancell in 2019 and haven’t stopped smiling since!
“Woke, Immigration & Defence” Torquay Fan?…Don’t forget the triple lock!… not sure if Labour are committed to keeping it!… regardless, I can see Labour eventually means testing the State pension so they can have more cash to waste on ensuring we all “identify” correctly!
So AST are going to take on the Slovenian courts without any evidence that Geoenergo are not insolvent. Good Luck with that Parsons!!
Appealing this decision is going to take big cash!…I wonder what Enyo Law are making of this!…would not surprise me if they withdraw before they spend a fortune on this no hoper!!
Further dilution with a fundraise to pay for Slovenian Lawyers is next no doubt!
A good job dog farter has plenty of money to be a diehard!! Yay!…😂😂
I take the view that this is a “false dawn”. The court has not stated that the applicant is insolvent or not, it has, in effect, put the application on hold until that fact is established and part of that process is to allow creditors to offer alternatives to insolvency.
Two scenarios exist. Firstly, it’s demonstrated that the applicant is a going concern. Secondly, if the applicant is insolvent, creditors (including AST) can offer to take over the company applying for insolvency. To take ownership, the creditor would have to demonstrate that they have the financial wherewithal to run the entire operation and would have to put up sureties and guarantees….I don’t believe AST are in a position to do this.
Current Slovenian ownership will be an obstacle here as they will not want a non EU company owning their assets.
This is just my view. I think there will be opportunities to trade here if you can get the timing right as there is built in volatility now! 🤔