“Smith Banomyong” Clarifies on the Baseless Rumors to Discredit GULF!

“Smith Banomyong” Clarifies on the Baseless Rumors to Discredit GULF!

Following the circulated news regarding the financial status of Gulf Energy Development Public Company (GULF) that caused GULF’s share price to plunge ฿5.50/share or 3.61% to ฿147.00/share in the trading session on September 12, 2019.

Today, September 13, 2019, Mr. Smith Banomyong, CFO of GULF, has joined Kaohoon Live Program, broadcasted through FM 102 MHz, YouTube Live and Facebook Live, to clarify the matter.


Regarding the news about GULF requesting to postpone the bill of exchange (B/E) and the payment default to Krung Thai Bankas as well as the siphon money related to Energy Earth Public Company Limited (EARTH) circulated in a live chat channel in LINE application, Mr. Smith says all the news published in the chat room of “Khan Hoon” or “คันหุ้น” are false and baseless.

Mr. Smith asserts that the company does not have any B/E, on the other hand, GULF receives an A rating from Tris Ratings. As for the news about 35 billion baht payment default, Mr. Smith says the company and its subsidiaries do not have any loan with Krung Thai Bank.

The most severe case of all would be the news that falsely accused the company in siphon money with EARTH while reiterated GULF has never done any business with EARTH. In this regard, the company will file a lawsuit to the court against the person who started the rumors.


In addition, Mr. Smith advises investors to only rely on the news published from trusted sources, not the one without origin and baseless as this, and to always analyst the information before making any decision.

As of 14:45, the share price of GULF is ฿148.00/share, increased ฿1.00/share or 0.68% with a trading value of 1.49 billion baht. The highest share price as of now is฿151.00/share and the lowest is ฿147.00/share.