Post by
Guytorule on Aug 18, 2024 11:16am
Is It a "Coincidence or Not"
Its appears , no coincidence here that this SASB gas field has these problems, one has to look back to its history of this field by its predecessors (Park Place) , the original holders of this block. They originally discovered and initially placed these drilling plateforms and commercially commenced its production with a required Total Cap X of over $650 milion dollars worth of expense costs . They too had incountered various problems along the way with this field and later eventually had too file bankruptcy. Trillion is the successor and had purchased this field at fire sale prices for $2.5 million(U.S.) dollars and preceeded to bring these fields back into production by the CEO (Halleran) who saw opportunity and raised funds through many private placements to further there efforts to explore and promote interest from the investment community. They believed in the true value of the in-ground gas reserves and proceeded to developement and bring production back on line. These are facts to the history of this field and its current developement efforts by TCF. Capital Markets then had not been to kind to its predecessors for years which lead them to bankruptcy and we see today as evident by share price, Markets are struggling to give true value to this company for unknown reasons many believe. Maybe, just maybe they see same out-come, as reflected by the markets current share price and value for Trillion. Observation one has to consider, as part of the Due Diligence process. Common sense say "Of Coarse" goes without saying. Good luck to all.
Comment by
Guytorule on Aug 19, 2024 7:35pm
I Believe, Trillion acquired Park place energy, the company holding the SASB block asset. Then Park Place Energy became a subsidiary of Trillion..threw the purchase. I believe this is how I remember reading it..Anyhow, agree with your assessment and comments.
Comment by
mcnils on Aug 20, 2024 4:41am
Normally it is not a problem if a COO leaves the company for whatever reason. The problem is the CEO who does not consider it necessary to explain this in a serious message.