Post by
Dragoon on Nov 19, 2020 6:13pm
Hidden Assets
Besides the cash the company has the RK Field and wells in East Ukraine that doesn't show / represent in the bookvalue. A lot of extra hidden assets / value! Potential in hidden assets. The RK Field will soon be in production with the batteries! A different story from when they had to do impairments of more than 10 mln USD (rough 15 mln CAD) over the years, because of the gas output numbers being too high for pipeline specifications. With the batteries the problem is solved.
Comment by
northofseven on Nov 20, 2020 3:48pm
Do you even know what you are talking about? Cause none of what you said is true. Do a little long term DD. The gas in the RK field has too much nitrogen for comerical sale. so they are going to use it as fuel to run natural gas generators. WTF does batteries do with it?
Comment by
Dragoon on Nov 21, 2020 8:24am
I look at press article 15 april for the generators / batteries, however you call them. If the RK field is producing the impairment is no longer 'fully' needed. As the RK field could first not produce https://www.cubenergyinc.com/investor/press-releases/
Comment by
Roddiggiti on Nov 21, 2020 4:45pm
Dragoon, you are correct. When a mineral asset isn't in use, or in this case a "non productive petroleum asset", the company will usually write this off. If that asset is to go back into production, then the asset can be added back to the balance sheet, or a portion of it anyway. But the reserves are still there and the company has a lot of natural gas that they can produce.