Post by
TheLandedEagles on May 17, 2024 2:59pm
Maybe Going BANKRUPT!!
Bankruptcy is likely, if they do not rectify the well WATER issues. While reserves are confirmed..no doubt ..but , the question is!!.. Can they economically , produce and monitize this SASB gas block..Predecessors for the record had gone Bankrupt prior to TCF acquisition and good old Art (CEO) bought this block for approx..I believe for $2.5 million (U.S) at the time. SO HERE WE ARE TODAY, years later, and find we have big problems (Again) bringing the gas reserves up , out of the ground..Anyones guess here,..if they announce unsuccessful results in remedying these issues with the Aritificial Lifts process...THEN, LOOK_OUT...down we go, to the .02 cents slide quickly..and then the big "B" word would definately apply..Jusy my opinion!!!
Comment by
westshore on May 21, 2024 2:57pm
Just hit a new low of .105!WOW Looking at the Chart again-bottom obviously not confirmed. Time is money-so yes how long before they solve these ongoing issues?That is the million dollar Question. Tough summer Blues market and challenged commodity prices- does not help the short term picture. Single digits this week? GLTA Slow sinking Titanic @ the moment!