a lot of XEL shareholders have been unhappy with Malcy's comments in his blog. However, he's been right about the general trend re this share. I see he wrote recently that 'unless something can be accommodated it looks like equity investors will be to a potentially large extent be wiped out'. Would anyone seriously want to gamble any further on this share after all the other setbacks?
option with the funding//partner probably a carry on as is, XEL 100% or at least majority %, perhaps an RBL with the contractors on some form of bbl incentive programme. Option 2 possible carry on minority stake.
yes, think this is basically it. If the unknown partner is amenable probably wants to wait out the EU vote, though don't see how this has a huge effect frankly on this venture other than financer scaremongering. But they will need to move before the revised Bonds conditions are signed off on as presumably this funding package includes a way the Bonds will be paid off on expiry 30/6 by the funders. Otherwise it's into the hands of whoever is working in concert with the Bondholders, and being Norwegian in origin one name springs to mind..
The other thing is that XEL's current debt -v- what they propose to spend, already hugely reduced pales in comparison to the like of Premier or ENQ.
I keep thinking about the Pareto Bonds and why they wanted to take up also large chunk of equity at the time. Re eagle's 23.58 ii post If there is an option now to acquire large chunk of further equity via Bonds restructuring might this now be a cheap way for the likes of STO to take substantial stake as opposed to normal jv route price per bbl plus proportionate share in the costs to date. They avoid much of that cost. Curious also the requests to modify XER articles. Could this be the reason XEL plugging the funding package to an.other (say AMEC) with the Chinese falling away the only alternative to that might be STO or whoever controls the Bonds through the back door.. Jmo..
This petition was stalled in parliament since 12th Aug 15; finally green lit on 12th feb 2016. The FCA have finally replied, saying its nothing to do with them as they only deal with market abuse & insider dealing, now is your chance to have your say.
If you hate seeing buys reported as sells etc!!!!!! Has already been sent to Martin Lewis, Daily Mail, Moneyweek & Watchdog.
My local MP supported this petition by writing to the petitions committee to help un-stall it. There’s 650 MP’s in Westminster, So have you written to your MP? 649 to go! If this petition doesn’t reach 10,000; then imo we might as well have not bothered as it will almost certainly be filed B1N; @ 10,000 the government should respond. ONLY 8 weeks to go !!!
So – If you haven’t yet signed or indeed have but haven’t passed it on to others, then now’s the time to do so.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.