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You do know the administrators are acting on behalf of the bondholders right? I guess not, because you have demonstrated time and time again that your knowledge of anything to do with this company is severely limited.
Something hasn't been right with you for some time.
toxicnerve: Question I keep asking myself is. What's in it for the BOD of XER why all this effort, why not let XER go the same way as XEL and automatically relinquish the license leaving the bastards with nothing? Why is the BOD trying to get the bondholders their money back, and in this process leave nothing extra for themselves and us, the PI? After all they have lost possibly 10s of millions with the collapse of XEL. Something doesn't sit right with me and it's not my third leg.
Sold some non-core items...so they found the turbines then ...
highlandsbull: hope this helps- http://www.fticonsulting-emea.com/~/media/Files/emea--files/creditors-portal/cip-emea-public/xcite/xcite-energy-letter-to-shareholders-21-february-2017.pdf Still ongoing???????
Jonjo, that'l be me..........I'm over on Sound Energy these days. How are you doing?
I don't remember him on here but he's over on the Sound Energy board.
a poster called Crudehope on hear??
I don t think it unreasonable that shareholders should know who is taking over the company and also if they and the bondholders are one and the same . Similarly unless the bondholders are a spread of private individuals then it would be useful to know who they were . Be interesting to know if the tax losses that buyers aquire exceed purchase price Not withstanding that Company have advised that will be nothing for shareholders would not hurt them to update site with liquidators progresss and if any furher offers received
my comment was a request for answers as to just what was going on, not conclusions, away from the bs shareholders were being fed to stay on side. FOI data in queries to DECC/OGA might be one way to start, apart from whatever comes out from the liquidators, which likely carpet sweeping.
Huh, here we are jumping to conclusions as usual with XEL and not one of them jumped back
I'd like to see evidence come out as to who was in the full dance card we were told about, ditto for the alternative funding options that supposedly were on the table that led to the termination and no doubt complete tee'ing off of the RBL participants, a viable funding option that was in place and dumped.
...has it been sold, who owns it now , who were/are the bondholders, its cost us enough so i think we have paid the subscription fee to know ? In the event that at a distant future we may get respite ie sue Cole & co who thinks its a good idea to have the paper certificate for the shares...well as it maybe a long wait I'm getting mine. If nothing else if I ever get the urge to place any money on the next AIM sure thing I'll have something tangible to wipe away the tears...
I'm thinking he might be Cole or Kew.
This been ongoing the past two years.. did not help. http://splash247.com/former-cnooc-executive-jailed-corruption/
I'm sure Leg-hole is sleeping with Cole..................
LEGENDS do you think shareholders give a FCUK if it's a Chinese consortium or Maersk ?. POO $100 plus, dance card FULL, share price will triple ect, all from BOD mouths. No deal why ? egotistic, out of there league wannabes. JMO. Last AGM judge me when the deal is done (H'mm let me think !!!) You keep trying to justify you decisions why ? you was wrong like many others. COLE & KEW & THE REST HAVE FLEECED SHAREHOLDERS
From start to finish a repetetive series of complete c*** ups by a BoD way out of it's depth.
The mishaps the BoD were responsible for happened long before the issue of the Sembmarine FSO or the oil price drop. These issues merely added to the woes initiated years before. The production project should have been underway in 2011 as an FSP.
highlandsbull. Two main problems that shafted us (XEL) were out of the BODs control. First was back in the summer of 2015. Our FSO provider was on the brink of collapse. This caused serious implications towards Bentley FDP and was a major setback for XEL. Remember this- Xcite looks to team-up with SSP for Bentley •08 January 2016 01:00 GMT •UK-based junior Xcite Energy is understood to be seeking a partnership with US-based floater technology provider Semb¬marine SSP covering the design and engineering of a cylindrical floating storage and offloading unit to develop its wholly- controlled Bentley heavy oil field in the UK North Sea, write Rob Watts, Steve Marshall and Ole Ketil Helgesen. •If it goes ahead, the new partnership would replace an earlier memorandum of understanding between Xcite and Teekay Shipping, reached in 2014, for the supply of a Sevan Marine- designed cylindrical FSO, said industry sources. 2nd- POO hit an all time low of about $27 a barrel just as Xcite and prefered partner were about to complete financial DD. Unfortunately that was the game changer and we know what happened next. Will it be the Chinese consortium or Maersk?
Is there anyone on here willing and able to give their opinion on the machinations regarding the sale process by liquidators and the involvement of others? Please email me on xciteaction (at) outlook.com All replies treated in confidence. Please give your lse name
Much blame lies at the door of XER, but serious questions need to be asked of DECC under foi as to why the 2011 draft FDP was turned down and the brainbox that rejected that could not be more inventive than accepting that a small company such as XEL had to go out and spend $250m on an EWT w/o going to a workover perhaps of the 6 well to obtain any additional data considered necessary. Or why the data 'required' by DECC could not have been obtained as part of FSP. The other issue of corse is just why did XEL sanction such an expensive EWT w/o having anyone lined up to share in the tab if the test was successful and/or funding lined up on that basis. Elementary stupidity at best imo.
seem to recall the liquidators had to go back to the Bondholders for approval, probably means the offer was not even up to the debt owing so they had to be canvassed to agree to a haircut..
It might be reasonable to assume that given "the Joint Liquidators can confirm that they are in advanced negotiations with a party to conclude a transaction", that the relevant party is willing to provide the minimum necessary liquidity to keep the company operational until they are able to conclude the transaction. Trust you to suggest there might be a late entrant to the party.
Judge me when the deal is done last AGM. Rupert you have lied IMO Rupert you are a coward IMO, Rupert you are indispacable IMO, Rupert grow a pair & tell the truth to shareholders. Rupert you are Dick Turpin in reverse. Rupert what a man you are, hope your familey and friends feel the same. Rupert IMO you are not worth a FCUK. Hope to meet you one DAY.