- The performance is far worse than what management wants the market to know.
- Noble Q1-2018 real loss is
-US$ 205M.
Noble real loss is for Q1-2018 is -205M
“Share of profits and losses of joint ventures and associates increased to US$134 million as a result of the increase in fair value of the Group’s investment in Harbour Energy – which has benefitted from an increase in value of their asset portfolio”.
-Q1-2018 MD&A
(…)
What is Harbour Energy ?
What we refer to is US $10.2B pending takeover with a dilutive effect for Noble even if conclusive. What we observe is Noble increasing its fair-value into Harbour– in an attempt to completely obfuscate their financial results– despite it can’t never pretend to fund a 75 percent equity contribution into Harbour Energy.
http://www.harbourenergy.com/news/press-releases/harbour-energy-proposal-acquire-santos-limited
Noble is very confident about the business model better known as mark-to-infinity.
They’ve shamelessly used the trick in the past when the trader was building-up assets and now as Noble changes its shelf.
The Noble Files 贵族档案
Noble Tries To Remove Website Critical Of Company
Even their Losses seem constructively fake so why one would give them a free-ride ?