FinancialsWhat a sh__ show this company is. Just when things appear to be moving in the right direction - wham, smack in the face, go back to 'start', do not pass go, do not collect your money.
First all the trouble with the Olisol underhandedness whatever that was about that went on forever.
Then price controls by the government... - -
I am amazed at how messed up the world is overall - seems like everywhere people are sheisters - everyone wants their payola in one form or another !!!
The Company has received a letter from the National gas company indicating that the price for gas is to be reduced to a range of $40-60 USD per thousand cubic meters. This is a significant reduction from the average gas price of approximately $114 USD per thousand cubic meter received in the fourth quarter of 2021.
The Company is reviewing options for future gas sales. The Company is also reevaluating the plans for seismic and drilling related expenses tied to new gas exploration given these pricing levels. Management does not anticipate that it can profitably develop and produce gas at the proposed prices.