Market Capitalisation US$909.3 million at 30 September 2015

From a KrisEnergy financial report 2015 - 12 months after they bought out Chevron for US$60 mill.
Market Cap, US45 mill when their shares were suspended from trading 9 months ago.
(and ps, the auditor has still not signed off on last year's accounts)
Now worth Zero, minus approx US$600 of debt.

Not a bad effort - burned thru 1.5 bill of value in a little over 5 years.

Now, do you see why all those grubs in white shirts and ties who grabbed the biggest slice of all that - it was not mostly spent on geologists and hard hats in the field - desperately wanted to keep the show on the road for as long as they could?

Not a bad effort again. They pulled out another $200 mill in the past 12 months. (according to my rough numbers)

I thought it was stalled. ??

the Grand Plan industry is still booming tho'.
a perennial - they do it so well here

"temporarily suspended due to funding issues" < Nov 2020
ie, the bankers don't see the economics
Has that been overcome?

My reading is that there is a short-medium term oversupply of refining capacity - especially in this region.
The changing fundamentals of oil may extend that further.
??

nemo wrote: ↑Thu Apr 08, 2021 5:20 pm

I thought it was stalled.

Only temporarily.
It is due for completion any time soon.
Meant to be state of the art. No wood burning frac columns.

There is no refinery. Only " plans to build a refinery" and still looking for investors.