RE:RE:RE:RE:RE:PentaNova Energy provides an update on Llancanelo AssetSo, big boy, what levers do they have? Debt - nope. Public offering - nope. Private placement - Giustra has burned way too many people before, so no smart money is going to chase this down the rabbit hole. You can have all the working interest you want on any number of positions you can get, but if you can't ACTUALLY pay for the work commitment on them you really don't have anything.
Now you want a response on taxes - YPF is taking the cash flow from the production and putting it against what is owed by PentaNova. If the property is earning net revenue, and unless they are able to add enough local costs to knock it down to nothing, they will owe something to the Argentinian Government for these operations, and they have no cash to pay for it. So that means more cash from the quickly dwindling pool that they currently have now. Maybe they have tax pools to draw on in the country, maybe not, but if the local government doesn't get paid then you are asking for trouble.
Balance sheet is clear - they are broke and it is getting worse every day. P and L says they spent $1.7 million on G&A in Q1. That's a lot.
Perhaps you should pull off the rose colored glasses and see it for what it is.