Sounds like diesel is seen the beginning of the end
Perhaps they are wheeling and dealing on a major purchase, merger, contract, etc? Lol, I just lost it for a minute there.
Italy's Eni finds 'supergiant' natural gas field off Egypt
3 hours ago
FILE - In this Tuesday, Jan. 20, 2015 file photo, Italian energy giant Eni CEO Claudio Descalzi poses for a photo prior to the start of a conference, in Rome. The Italian energy company Eni says it has discovered a "supergiant" natural gas field off Egypt. A company statement on Sunday, Aug. 30, 2015 is calling it the "largest-ever" found in the Mediterranean Sea. (AP Photo/Andrew Medichini, File)
ROME (AP) — The Italian energy company Eni SpA announced Sunday it has discovered a "supergiant" natural gas field off Egypt, describing it as the "largest-ever" found in the Mediterranean Sea.
The news came a day after Eni CEO Claudio Descalzi met in Cairo with Egyptian President Abdel-Fattah el-Sissi, the Egyptian leader's office said.
Eni said the discovery — made in its Zohr prospect "in the deep waters of Egypt" — could hold a potential 30 trillion cubic feet of gas over an area of 100 square kilometers (38.6 square miles).
The discovery well is 190 kilometers (about 120 miles) from the Egyptian coast, and is at a depth of 1,450 meters ( 4,757 feet) in the Shorouk Block, the company said. The block is about 107 kilometers (66 miles) from Port Said.
"Zohr is the largest gas discovery ever made in Egypt and in the Mediterranean Sea and could become one of the world's largest natural gas finds," Eni said in a statement. "The discovery, after its full development, will be able to ensure satisfying Egypt's natural gas demand for decades."
"Eni will immediately appraise the field with the aim of accelerating a fast-track development of the discovery," the energy company said.
Descalzi was quoted by Eni as saying that the discovery reconfirms that "Egypt still has great potential" energy-wise. He said "important synergies with the existing infrastructures can be exploited, allowing us a fast production startup."
Eni has been in Egypt since 1954 through its subsidiary IEOC. It is the main hydrocarbon producer in Egypt, with a daily equity production of 200,000 barrels of oil equivalent, the company said.
Do they only look in the oil industry which, btw, needs more efficiency than ever?
Posted earlier but it did not appear here. This is manipulated by someone and it is clear but management is simply clueless on what to do. Could they be involved with this action? Hmmm....
Besides the manipulation at the end of each day for the past year, the ceo and Cfo are incompetent or dare I say in on the manipulation. Since we know the latter is not happening (?) perhaps when it goes below $1 the company will try to go private? They have 25 million and a 10M credit facility, could the be thinking of buying all shares? There are some reputable mutual funds invested here, why are they so quiet? Where are the law firms wanting to represent shareholders announcing action? It is much too quiet for this to be going on unnoticed. Finally, I earlier said that this stock is behaving as having accounting issues, one has to wonder.
Finally why are employees not fleeing this sinking ship?
Problem is the same. No transparency in what opportunities are coming and why do they think they can run an acquisition other than into the ground like eng stock. Why would the board be happy with or tolerate this incompetence?
Smoke and mirrors! Management is either extremely incompetent or has a death wish. Either way, it is destroying this company and shareholders. What say you?
While Nero fiddles!