G3 Exploration Share Discussion Threads

[tez123] 13/10/2020 11:12

They like an early start!

[alexios1201] 13/10/2020 11:06

5am in Caymans lols

[tez123] 13/10/2020 11:01

Cayman news leak by the looks of it.

[justtrying1] 13/10/2020 10:15

A new p n d operation

[timeforchange] 14/9/2020 12:58

Offer of 2bln for producing assets will come in. 50 bagger.

[shardview] 11/9/2020 11:37

Game over. Chinese are going to give you peanuts for your prized assets and all you'll be left with is the pile of debt.

[tidy 2] 10/9/2020 21:30

270m debt remember

[fatslag69] 09/9/2020 21:23

Net assets of 1/2 billon pounds..
Market cap 15m quid.. 20 bagger coming soon..

[smokingjoe] 09/9/2020 15:42

And where does the 125p come from ?

[hodhasharon] 09/9/2020 13:44

Ownership Breakdown
Institutions 5.5% 8,508,718 shares
General Public 15.6% 24,361,381 shares
Private Companies 23.1% 36,031,759 shares
Individual Insiders 55.9% 87,170,431 shares

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

[hodhasharon] 09/9/2020 13:44

Randeep Grewal Founder 14.67yrs US$1.87m 55.85% $8.0m

[tidy 2] 09/9/2020 08:31

Net Debt 270.17M

[hodhasharon] 08/9/2020 11:01

Really?

Short Term Liabilities: G3E's short term assets ($401.9M) exceed its short term liabilities ($236.2M).

Long Term Liabilities: G3E's short term assets ($401.9M) exceed its long term liabilities ($120.7M).

[wiseacre] 02/9/2020 11:01

The valuation attributed to the gas is hot air or, if you prefer, pie in the sky. It seems some foolish punters have been sucked in. Face the fact that this company is bust.

[invester2010] 27/8/2020 13:15

holding steady....some verygood buys again today. creeping up...once we break 12p, its blue skies to 20p+

buy/add and hold tight.

[invester2010] 27/8/2020 02:46

BTW it closed high of the day @10.80 buys. So buy and hold plnety of upside from this consilidaton area. Worth a risk at this price for mjaor gains. (Ealry bids get the worm in the end, as they say)

Few K each and its over 15p. The float is tiney, and only 10% of shares availbale to the public! just craxy on how it can go on with is kind of low float and availbale shares to the piblic. glta.

[invester2010] 27/8/2020 02:39

I think any onebuying down here - will do very well. It is at low end and has been at this level for months, and any hint of things gooing well and resturtcured deal or asset sale going through will end the shares sky high---as per the broker target of 90p.

However, will rise to 20p+ in prepartion for the update...they are gettig close, and high volume thsi week suggest it is about to make a trip to 20p

Buy and hold...can go any lower, and there is huge gap to the upside. And if things are looking postiive then it will supasse 5op in a single day.

Taking position tomorrow.

[city analyst1] 25/8/2020 16:30

Private investors would be wise to note the following:

On December 11 2019, and by order of the Grand Court of the Cayman Islands, Alexander Lawson, Christopher Kennedy, and Tiffany Wong were appointed Joint Provisional Liquidators (JPLs). All three are employees of Alvarez & Marsal Ltd.

The primary roles of the JPLs are, broadly, to preserve and protect the company's assets and identify any opportunities which may exist to restructure or refinance the company; possibly through a Reserves Based Lending (RBL) facility.

The subsidiaries of the company (Greka Gas China Ltd and Green Dragon Gas which holds all of the company's commercially producing assets), on the other hand, are under the control of the Receivers, Borrelli Walsh, who were appointed on September 09 2019.

Borrelli Walsh's objective is, primarily, to execute a partial sale of GDG; or a sale of ‘equity for cash’ in GDG to pay off the creditors (Nordic and GIC). The latter option would allow GDG to stay intact but with a new ownership structure (Nordic and GIC owning 30% and G3E owning 70%).

Thus, following the hearing on June 23 2020, the Grand Court of the Cayman Islands directed the JPLs to be:

• Fully involved in, and lead, the refinancing of the company's debt.

• Provide written updates to the bondholders and the directors (Borrelli Walsh acting as directors) of the relevant subsidiaries of the company fortnightly with respect to any material development with respect to the progress of the refinancing.

To this end, an announcement from the JPLs is now imminent. I believe Borrelli Walsh would prefer a Reserves Based Lending (RBL) solution over a partial sale of the company’s assets. Either way, it doesn’t really matter as either outcome should see off the creditors and return the company to rude health.

That aside, the most important aspect of this entire ‘fiasco’ should not go unnoticed by the private investor:

A recent report (by HSBC Zhengzhou Ltd) conducted for the company’s Reserves Based Lending application in October 2019, valued the producing Green Dragon Gas at $1.79 billion (or £1.36 billion); the GCZ block was valued at $485millon (1P) and the GSS block was valued at $1.3 billion (2P).

Now, think about that for moment…

The company’s current market cap is £17m (11pence per share). However, the company’s assets were valued at £1.36 billion back in October 2019; before the extraordinary rally in natural gas prices.

Anyway, less the company’s debt of circa £155m (owed to the bondholders), and allowing for substantive legal fees, administrative costs, and working capital requirements, implies a potential NAV of circa £900m.

Howard Stanley Marks, the serial value investor, and founder of the multibillion, wealth management firm Oaktree Capital Management, once opined that:

“Buying cheap stocks is great, but buying good companies cheaply is even better. That’s a potent combination.”


All IMHO.

[albert3591] 24/8/2020 15:49

I think some upside possible 13.5pfor me

[hodhasharon] 24/8/2020 14:40

Looks like the next stop is 20p.