If there is no financing by mid year, I will put together an...

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tt2000

2,345 Posts.

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14/06/18

20:24

Post #: 33720583
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Originally posted by tt2000 ↑

On 25th October 2017 SXY stated the whole of company financing solution would be complete March 2018 (open the announcement you will see it).

On 23 October the WSGP wells came into production.

3 months later (following what has been referred to by SXY as "teething issues") the financing deadline moved to mid 2018 (quite ambiguous compared to the March deadline provided only three months earlier).

We are now mid year, and not even gas sales agreements have been reached (which is very likely a precursor to debt funding). Now why wouldn't gas sales agreements be reached when we know customers are experiencing a gas shortage. One reason is that SXY are not certain as to the volumes that will be produced (due to uncertainty around the flow rates).

I was initially hesitant to post my email, as some HC become defensive and go into denial (but a few more open posters were already alluding to the issues), so I've posted in the hope that with enough emails, Ian Davies comes out with the information we are all seeking (and realises we are astute investors).

I have stated before I see a lot of potential and it is for this reason I want certainty from the horses mouth.

If you fall into the former group, and just want to read ramping posts, please add me to ignore. I'm merely pointing out the risks at this current time, which probably explain the recent share price too.

Mr. Davies needs to deliver - no more excuses for him.

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If there is no financing by mid year, I will put together an Information Memorandum and start distributing to potential suitors....

Not sure about you, I expect a return on my investment. Not to be sitting in the dark watching 5 wells get drilled in 8 months, with management negotiating a financing solution that commenced Feb 2017

SXY Price at posting: 40.0¢ Sentiment: Hold Disclosure: Held
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If there is no financing by mid year, I will put together an...

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