Well Interesting.
You got your answer on Brazil. Just give a large % back.
Why?
I think the other Okap stock can explain it much better as the ASX also inquired as to these private JV partners that seem to have nothing to give the auditors.
ASX
Given the Disclaimer relates to the Auditor’s inability to obtain sufficient appropriate audit evidence in relation to the assets and liabilities of its LAR operations as stated in the Financial Report, what steps does the Company intend to take to obtain an unqualified audit/review report for future periods?
Okap CTR
The Company believes that it will be able to obtain an unqualified audit / review report in future periods given the fact that, as previously announced the Company has reached agreement on the farm-down of its interests in LAR to a level whereby the Company will not be required to consolidate for accounting purposes its share of operations in LAR, (23/10/15) thus removing the need for the full audit of LAR moving forward, but would rather require just an assessment of the carrying value of the investment in LAR at each reporting period end..
CTR own 60% of Latin American resources. Smith at LAR is very well known to Okap in RRS, BMZ and CTR.
CTR. (Okap) have now giving back 50% to LAR for nothing. LAR has a A-4 well paid for by CTR shareholders producing between 4000-3000 bopd per month. 60% of that should be CTR. You wont find that in a CTR announcement. You have to go to the Gov for that.
But they just give it back so they don't have to account for it in Audited accounts.
Just like with Brazil.
I asked this a week ago.
"I feel that before the next Q. There may well be a suspension. If not one would think the ASX will inquire once again as to proof that this is a going concern. It will most certainly not show it is in the Nov Q unless another small CR can takes place."
Now I have my answer.
As to WG.
Did anyone notice what was not part of the Resolutions????????????????
IGS Price at posting:
0.2¢ Sentiment: None Disclosure: Not Held
