ship sold?

[beeruce]

https://www.offshore-mag.com/articles/20...build.html

[sycamoresouth]

That's all folks.  Damn!!

[dkeller]

How do you know this is the ship that was being built for Nautilus use??

In the press release above it states:

OEV is a subsidiary of MDL Energy, an offshore shipping investment group with the capability to design, build, and deliver vessels for offshore operators.

Maybe this OEV company is going to lease it to Nautilus , the same as MAC was going to do!!

[beeruce]

Hope so - some news from Nautilus would be nice

[sycamoresouth]

I have been most optimistic about this but the renaming of the ship is what got me.  Maybe that was part of the backroom deal but that's the most onimous part of that whole press release.  And the fact that NM didn't have a press release.

[kangaroo111]

I have been most optimistic about this but the renaming of the ship is what got me.  Maybe that was part of the backroom deal but that's the most onimous part of that whole press release.  And the fact that NM didn't have a press release.

MDL Energy posted recently:

"Ocean Energy Ventures Pty Ltd (OEV), a subsidiary of the MDL Energy Pvt Ltd group of companies, together with Quippo Oil and Gas, is pleased to publicly announce the effectiveness of the contract for the acquisition Fujian Mawei newbuild hull MW301-1.

The contract was originally signed in Shanghai on 26th July 2018 and became effective on 3rd September 2018.

The vessel was originally ordered by Marine Assets Corporation against a 5 year contract with Nautilus Minerals. The vessel has now been re-dubbed ‘Amaya Explorer’

OEV’s dialogue for the charter of the vessel to Nautilus Minerals was terminated on 5th October 2018 and Nautilus have been instructed to remove all of their equipment off the vessel. OEV is now re-purposing the vessel."

The entire news feed is a bit longer:

http://mdlenergy.com/announcement-of-new...-ventures/

[jtbesq114]

I am a little worried. However just bought at .065 and have order in for .06 Can't quit down averaging. When do we know?

[Monk3]

"Nautilus have been instructed to remove all of their equipment off the vessel. OEV is now re-purposing the vessel." Well... shit. Lost their ship.

[dkeller]

"Nautilus have been instructed to remove all of their equipment off the vessel. OEV is now re-purposing the vessel." Well... shit. Lost their ship.

Since the information in the acticles is dated around Oct 5th, is it not Nautilus's responsibility to do a press release on any information immediately  that can affect stock price.

This has caused the stock collapse and alot of small shareholders to loose money.

[Monk3]

A class action suit against NUS is warranted and long overdue. Management has given ridiculous amounts of fodder over the years to feed the law firms. I was always afraid of NUS becoming a success then having the buzzards sweep in for a cut of the pie. Thing is, there isn't anything to go after so they won't. You could lodge a complaint with the TSX...

I remember being on a call and Mike said something about the remaining component builds and an analyst from TD said "but you told us previously that all equipment was on hold" and he said "...yah, all except for a couple of pieces". So he got caught on a quarterly lying, got called out and then admitted it. I almost burst out laughing. It was really awkward.

Well, good luck everyone. It will be interesting to see how they restructure/kill this project. Wow, what a wait it has been.