Member Info for Nightgaunt

Seems you missed Thursday and Friday too.

At last someone with sense is posting.
I could not have put this into better words.

And you form this opinion with you first post? Did you read the July RNS I posted before you made a new account?

Thu, 2nd Jul 2020 10:44

RNS Number : 8593R

Star Phoenix Group Ltd

02 July 2020

OUTSTANDING PAYMENT UPDATE

Star Phoenix (AIM: STA), an international company with an oilfield services business in Trinidad and an oil and gas interest in Indonesia, advises that it has received a further payment of US$283,000 from LandOcean Energy Services Co., Ltd. ("LandOcean") pursuant to the sale of Range Resources Trinidad Limited. The total outstanding amount that remains due to the Company from LandOcean is approximately US$1,251,611. The Company continues its discussions with LandOcean to expedite the payment of the outstanding amount and will provide an update on any further developments.

This announcement has been approved by Chairman Kerry Gu on behalf of the Company.

How about answering the questions i set as you promised over 2 months ago Alfresco(LOO) instead of using smoke and mirrors to mu last comment?
Simple yes or mo please, have LO paid every penny to STA for RRL?
If the answer is no then the sale has not completed, simple.

One other thing as the sale of RRL has not concluded as monies are still outstanding I'd guess at present any tax liability is still with STA. Obviously I don't know what is in the contract agreed between LO and STA though but I'd be surprised if LO held the liability for unpaid tax at this stage.

It will be interesting to see what happens with the court case for unpaid tax too.
Some on here claim LO took that on with the sale, I'm not so sure unless it was written into the sale contract, if it was whoever's signed on behalf of LO hopefully told their shareholders, if not then imho STA still own any potential debt.

So yet another mouth to feed, get rid of 3 Directors and replace with 4. Unbelievable!

Personally I'd say you've hit the nail on the head.

Does it come as a surprise when you look at the history of STA and RRL its previous incarnation?

No business plan, no product or service and can't even manage cashflow.

@Pippa,
The problem in this country is with every Tory government more of the manufacturing base vanishes. It's now at the point where there are hardly any in British hands. These jobs require high skill levels and investment in proper apprenticeships such as the ome I did overseen by the EITB.
In my sector alone O&G there has been in the region of 200k jobs gone in the last few years, these being highly paid skilled positions leading to money going back into the economy.
Don't get me started on farms and landowners, if they can't make it work then sell the business to someone who can.
A a Chartered Engineer born and bred in Tyneside it has always been the case in my 30+,years that well paying work requiring world beating skils and training have been destroyed, maybe it's time the rest of the UK had a taste.
All the cr@p about giving tax breaks to the rich as the money filters down is just that cr@p, the capitalist system works like a tree, it takes what it needs from the roots and pushes it up to the leaves!

@alfresco(LOO) you don't work for Landocean do you?
Just wondering as you don't seem to make good on your promises either.
I'd still love to have your responses to my questions, granted it may be difficult to ramp based on the current lack of news and drop in SP.

I think you'll find the opposition are normally in the minority so my comment stands.
As for de-ramping, you are having a laugh aren't you? I'm countering everything you say with examples and thoughts read from RNS's, people can make their own minds up but I have nothing to gain nor lose here, how about you?

@alfresco(LOO), no response to my burning questions below?

Actually there is movement today based on news:

 

9 June 2020

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. 

OUTSTANDING PAYMENT UPDATE

Star Phoenix (AIM: STA), an international company with an oilfield services business in Trinidad and an oil and gas interest in Indonesia, advises that it has not received the outstanding payment from LandOcean Energy Services Co., Ltd. ("LandOcean"), pursuant to the sale of Range Resources Trinidad Limited ("RRTL") by the agreed deadline of 8 June 2020. The total outstanding amount is US$1,534,611.

The Company has made numerous attempts to finalise payment due from LandOcean including several extensions to the payment deadline. The Company is working with its legal advisers to seek resolution on this matter and will provide an update upon further developments.

This announcement has been approved by Chairman Kerry Gu on behalf of the Company.

So do please elaborate, what news has driven the share price lately? Or even over the last week?Perhaps another payment on time failing to emerge as per the RNS?
A company that for six months have said nothing of any plan or direction let alone what sector they plan to be in, then again if they can't manage cashflow what chance do they have actually doing that? What business are they in or even plan to be in?
It's a long time burning cash with no future plan on the table don't you agrees?
Please elaborate alfresco I'm sure all would love to know your take on the above.
Quite simply my view is more jam tomorrow, rinse and repeat. I'm quite direct and appreciate direct responses with simple explanations so fire away.
Looking forward to your full take on my comments.

So you disagree there is no news on anything this company have planned?
They have nothing planned and the RNS is just another failure to get paid on time. If they can't manage cashflow what else will they be able to manage?
Perhaps you'd like to elaborate as you seem to see the company far rosier than most on here?

My figures where correct at time of posting.
Do you also disagree with low volumes and movement on no news too?

Actually it's the same as always, low volumes and no news.
What makes you think it's a different picture?
Same canvas to me.

Actually with a spread as wide as the Grand Canyon I doubt many sellers made a penny unless they held for quite some time.
This is moving on very low volumes with no real news, why would that be?

STA Today:
3rd fastest faller in AIM
5th fastest faller overall