Malcy’s blog7 Jun 2022 21:16
I laughed when I read Malay’s Blog earlier. His full comment on Challenging is:
“Things are changing at CEG as CEO Eytan Uliel gets to grip with the underlying portfolio and does the simple things better, for example recompletions, swabbing and workovers. As cashflow picks up and delivery from the existing asset base makes itself felt then time can be spent on a drilling campaign next year. ”
Those may all be valid points, but you can’t make them and ignore Predator’s legal claim. But then towards the bottom of the blog he states about Predator:
“Wow, this is one hell of a bombshell as PRD take to the law to get redress and into the bargain some 13 million big ones in compensation which is more that the CEG market cap. I have to say that I never saw this coming and I’m not really sure quite how it is going to be resolved. ”
Not well for CEG is my guess. Do they even have the funds to defend a $13 million claim?