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Maddog: "yorks / you need to buy back in before you miss the boat "
Thanks - but NO THANKS. For anyone "GENUINELY" invested here... you have my deepest sympathy!
YL ;-)
Maybe you can suggest some suitable reading for me, maddog, as well as educating me on what it is exactly I will eat my thoughts on. The suitability and experience of the current NED's?
Thanks
yorks / you need to buy back in before you miss the boat " at the end of the day this share will not be a sub under water. l am not a robot for the bods, in fact l hate the word bod it reminds me of pyramid sales,
croc/ do some real home work " and latter you will eat your thoughts ,
"it's always been "abundantly clearly" that one or two here post on behalf of the BOD as their acting PR agents (and we all know who they are)".
It's not me, guv. Honest.
I am more than happy to take a salary to become a NED though and consider myself almost as qualified as the present incumbents :-)
"it's obvious the BOD read this BB as they replied to me by my handle"
It's been the case all along Ja51... in fact it's always been "abundantly clearly" that one or two here post on behalf of the BOD as their acting PR agents (and we all know who they are...LOL).
Still looking in from time to time and finding the day to day banter most entertaining.
Keep up the good work... searching for the truth!
YL ;-)
As it's obvious the BOD read this BB as they replied to me by my handle I thank BOD for clearing that question up.
It was contradictory as it could be taken that if re-connection was not possible that Angus is liable for 100% of abandonment “excluding subsurface pipework”
But if reconnection was made the following statement would kick in and Angus would then be liable for all works including the 10km pipeline at great expense.
"Following reconnection and a declaration that gas can be extracted and sold in a commercially viable manner, future abandonment costs together with ordinary Field costs and revenues will be shared 51%/49% by the Group and Saltfleetby Energy under a standard JOA"
I look forward to your answer regarding myself!....lol
Thanks JA51,
I suspect that my question did not go through as I do not recall seeing any confirmation on submission. It has happened before. I may re-submit for an answer next month, but more concerned with news updates tbh.
Just seen someone has submitted a question about you on there though. What an odd thing to submit to Angus, and also for them to upload onto the IQ section of their website.
"Infamy, Infamy. They've all got it infamy" (well, you it seems)
Hi Crocqman
Seems my question was answered today!
Recently answered questions
Your RNS of 19th June is unclear and contradictory as to whether the liability for all abandonment costs surrounding the subsurface pipe works would be shared 49 /51 for these works following reconnection. Asked on 20 February 2020
Thank you JA51. The RNS of 19th June is in fact quite clear. Angus is liable for 100% of abandonment “excluding subsurface pipework” until first gas. After first gas, the free carry for Saltfleetby Energy drops away and the provisions of the JOA apply such that Angus shares abandonment costs 51%/49% with Saltfleetby Energy but once again subsurface pipework abandonment is specifically excluded as the RNS makes clear: “Saltfleeby Energy has agreed to retain the liability for all abandonment costs surrounding the subsurface pipelines from the two sites to the Theddlethorpe Gas Facility together with certain redundancy costs which would otherwise fall to be treated as expenses under the JOA.”
I also submitted a question yesterday following my earlier post in response to the point raised by (I think, wealdpwr) relating to our non-exec chairman and the 'issues' coming to light at his other NED position.
I questioned the probity of management given the recent history here with regard to JT-P, the negativity around Vonk and this latest question mark and asked if they were confident in their processes to identify, monitor and hold to account management given the history and the negative impact this has seen amongst investors and the scrutiny placed on management over the past 15 months or so.
No sign on the website as yet, but I did not note a confirmation of submission, so perhaps this has been lost in the ether.
As another poster pointed out, they may just say that another NED position is nothing to do with them, but it is a reflection on the whole management team given the recent history and questionable decisions made by the company regarding personnel.
Submitted this.........Maybe they won't answer as they also think there is no connection ...lol
Your RNS Of 1tth June is unclear and contradictory as to whether the liability for all abandonment costs surrounding the subsurface works would be shared 49% /51% for these works Following reconnection.
Having looked over Saltfleetby Energy Ltd last filled accounts it lists De-Commissioning costs at £12,837,730. Could you please clarify if Angus would be 51% liable for any “surrounding subsurface works” Following re-connection
Taken from RNS Number : 7530C 19 June 2019
Following reconnection and a declaration that gas can be extracted and sold in a commercially viable manner, future abandonment costs together with ordinary Field costs and revenues will be shared 51%/49% by the Group and Saltfleetby Energy under a standard JOA.
Saltfleeby Energy has agreed to retain the liability for all abandonment costs surrounding the subsurface pipelines from the two sites to the Theddlethorpe Gas Facility together with certain redundancy costs which would otherwise fall to be treated as expenses under the JOA.