RE:RE:RE:RE:RE:RE:RE:Selat Panjang PSC 3 Years latercopperplay wrote: StratCap wrote:
SlyFox1 wrote: With all the questions shareholders have, it's crazy to think how simple it would be to have them all answered. Either have an investor call as part of an AGM, or simply provide a NR for a corporate update.
You mean like a normal operating publicly traded company? Transparency seriously lacking is an understatement with current management and board composition. If it wasnt for warrants expiring or wanting to lower the exercise price there would be no communication at all.
What about that convertible debenture held by the partner that has come due in November 2021? Did they issue shares? 20.0 million shares is not a small amount as that represents more than 10 % of the company.
Did they negotiate an extension to satisfy the default notice that was delivered?
Stratcap you seen to understand this story and realistic with expectations. Based on SNV stuck at 2-3 cents for 6 months now...what are chances this company done as we know it and reverse merger inevitable?
I dont have any other theories or speculations that havent already been displayed here by everyone posting on this board. IMHO, at current share price, definately a reverse merger along with the usual restructuring could be one of the paths that this goes but might be the least desirable as it will likely squash the current shareholders. Obviously, Selat in its current state is not financeable even at $110 oil or it would have happened by now.
For some reason, management has not pulled the chute and gone the reverse merger route yet so I think they are still holding out hope that Migas will help sort the Selat property out. What that solution looks like is a definite wild card and could be either good or bad.
My frustration with this like many others is we are left in the dark and in the absence of any news, we are left to speculate and when its trading at .025 with no money in the till it really looks like its coming down to Selat or bust then management will make their next move.
Like I said above, nothing that hasnt already been stated by others on this board. An update to the many questions is needed soon whether the news is good or bad.