NG Energy International Corp V.GASX

Credibility gone; timeline stretching out indefinitely

[Tree2tree]

Yes I am changing my tune on GASX with this long-awaited press release that was supposed to announce production.  I still think they will eventually get it done, but I have taken profits on 50% of my position due to the indefinitely stretching timeline and declining credibility.

For how many months has the ceo been promising production any day now?  Right up to a couple of weeks ago, when he said it will be 'sooner than you think.'  This habitual over-promising and under-delivering seriously damages the company's credibility.  It's like they are just finding out as they go along what it takes to start production - shamefully amateurish for a supposedly experienced operator.

At least they went into a little more detail on the remaining steps (which I will bet is still an incomplete list), but some of the items are indefinite in terms of timing.  The biggest shocker is the statement about "currently completing the consultation process with the communities located in the line of the pipeline."  Likely interpretation: (i) they started the negotiation process about 2 years too late; and (ii) some people have realized now that they have the company over a barrel and can hold up the whole project indefinitely over the compensation issue.

We are still months away from delivering gas and getting paid.  As I said, I am not out of this, but I have lightened up as there are other promising alternatives in waiting.

[Rob0012]

Very well said my friend!  And I'm doing the same, selling shares in here and moving even more cash into AXL.  I've learned not to fall in love with Mgt but when I first got my wife to listen to one of Serafino's interview, she said "he talks like a BSer".  I'm 6 months later, still with a good profit but agrreing that this guy over promised.  AXL Mgt

[Tree2tree]

Right on Rob.  Btw I invested some of my proceeds into ALV.

[PonyandTrap]

I think the only credibility in question is that of the last 3 posters. Based on your posts it tells me it's a great time to accumalte more and take advantage of the drop over the past 2 days.

[gamer007]

I'm in the same camp as well............took a good profit at 2.25 ....but keeping core position for longer term........covid has messed things up for just about everyone........Serafino puts his best foot forward..........but there is a bigger machine involved all the way down the line to guy with the pipe..........governments are also slow at getting things done as well ...... RE: AXL ....I

[pecuniam]

Get in today. With NG prices where they are and just the momentum of the GASX chart it's going back up. Buying on the dip. Thanks for the shares.

[Tree2tree]

For sure the recent buyers are going to pump, but I don't think there will be any rush to get back into GASX.  Based on recent short-term cycles, the dips usually last at least a  month.  And this time we have certainty that production is NOT for next week or the week after.  Several milestones need to be announced before anybody can pretend (again) that production is

[Tree2tree]

BTW I picked up some ALV while waiting for GASX to get its act together.  Market cap of ALV is still lower at this point.