HK Shell, for Sale !


  • The performance is far worse than what management wants the market to know.
  • Noble Q1-2018 real loss is
    -US$ 205M.

Noble Group loss 31 march 201.png

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 Harbourin an attempt to completely obfuscate their financial resultsdespite it can’t never pretend to fund a 75 percent equity contribution into Harbour Energy.

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

“Noble Group apparently has some extra time on its hands – it is now targetting critics of the company claiming “trademark infringement”. Of course, most people will realize this argument is ridiculous but we will let you read it in its full. See below for a takedown notice sent by Noble to WordPress over a blog hosted by a shortseller. WordPress made the right decision and did not remove the content.”


Even their Losses seem constructively fake so why one would give them a free-ride ?


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