Your biggest parcel yet!Wow - another big loss.Yes there is...

Your biggest parcel yet!

Wow - another big loss.

Yes there is something wrong with this company...

(a). They have promised an LNG terminal for years - and the deadlines have come and go.

(b). They have raised hundreds of millions of dollars - well in excess of the original budget to build this terminal.

(c). Most of that money has been paid to Slipform Engineering and associates. Slipform is a private company controlled by the CEO.

(d). Slipform has never built an LNG terminal.

(e). Finally they got some boxes - braised aluminium boxes - delivered to Sulewesi. They claim these boxes are worth more than $100 million - but that is a joke. They are braised boxes - nothing more. Double digit millions maybe. Not more than $5. However these boxes are now sitting on wharf in Sulewesi.

(f). They have not got permission to actually exploit the gas.

(g). Their gas reserves got downgraded this year - when they announced it as an upgrade.

Short this baby!


Brolga