GREY:NKRSF - Post by User
Comment by
deismanon Jul 11, 2016 1:12pm
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Post# 25041522
RE:Niko Indonesia is bankrupt..In a way it's a good news
RE:Niko Indonesia is bankrupt..In a way it's a good news
Looks like Niko already walked away from Indonesia after selling $16M of assets. From the 2016 AIF "• In April 2015, the Company closed on the sale of its subsidiaries holding interests in four (4) Indonesian PSCs (West Papua IV, Kofiau, Halmahera-Kofiau, and Aru). Cash consideration of $16 million was received, reflecting $9 million of combined net working capital obligations of the subsidiaries.
• In July 2016, the Company closed its Indonesian office and discontinued operating activities related to its remaining Indonesia PSCs."
And "(4) The Company relinquished all blocks in Indonesia in Fiscal 2016 consisting of total gross acreage of 19,769,739 (Net 13,437,320 acres). The total acres have been excluded from the table."
So the bankrupcy was probably "designed"