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Forky - I hope not wouldn't wish that on anyone
The oga are supposed to have a remit they have awarded themselves covering a multiplicity of options to move uk inc along with strategic assets such as Bentley. They need to be pressurised also to deliver on that or at least have markers put up as to their near as expected uselessness as per the bod of xel/r.
Fortunately I mostly moved on some time ago, just like to see this bod shafted like they have both I and others with their complete incompetence.
Ooooops......twice
He might have pegged it
He might have pegged it
Even Underdick has stopped posting - sort of miss his funny comments
HB - because the OGA dont give a FF - they know this is doomed and they will sit back and wait until a company with cash comes along and pick this up for pennies - why should they care they just want a company that has sufficient cash to develop the site and XEL or XER is not that company - end of - suggest you move on buddy cos this is a lost cause !!
Why are oga as is their stated remit not sitting in on xer board meetings to get clarity re ongoings there.
Hopefully if there is seen to be substantive protest both with oga and the court, while they still can whoever behind this will have to come clean as the timeline for them running down as it is for xel.
Fortunately ii more active, with oga imo they shd push the fact xel/r/shareholders have spent to get Bentley to present stage inc tax losses at behest of DECC so where are they/oga over small matter of support re funding and guarantee to take this forward re their declared remit for ukns development. Also the liquidator that states not appointed yet, someone to stand in the bvi court for shareholders, sure rep for said liquidator will also be there.
Still no news regarding the Bressay second extension from Statoil/Shell and the OGA. Less than four weeks to go. So much for the OGAs much touted MER and Quad 9 Heavy Oil Hub. At least the non elected Prime Minister as hinted that London City will be protected during and after Brexit. We will sleep easy in the north east, knowing that yet again, the bankers are getting to keep their yachts and holiday homes in the Med....
.... the fight is over.....Just look at this board....... dead.
Relatively speaking will cost little for two shareholders to visit the court 5/12 to make representation to the judge, query the liquidator re open tender. Better imo that waste money on lawyer.
A couple of posters on II have suggested a legal fund be set up. The attached link is to asses the appetite for any future legal action. Note of intention or willingness to participate at £100 is all that is required at the moment. No cash unless there is sufficient support. If you are interested, please sign. http://www.ipetitions.com/petition/legal-fund-contribution WJB
take, tickets, sit in on the case.
This talk on ii of £100/head would mot tale much out of that sub for two r/t tickers to bvi to sit in on this case
Be heard. Make a representation to the judge that the liquidatior should conduct open tender for the xel/xer leases, bentley and Chadwick to a disclosed list of possible bidders, msjor oilcos. The asset value is hopefully not just treated as $140m, the amount of the bondholder debt, plus the amount that xer owe xel should be determined as being due in liquidation and be an acknowledged recoverable claim.
Are they not first in line.
As mentioned Willins will not care, seems crucial at the bvi hearing a shareholder's representative is present to present the case for open bidding/data room for Bentley, can't believe XER will be allowed also at this rate to hold on to the Chadwick licence by OGA when that come up for extension.
And do what exactly??
agree, it was stupidity on the part of xer to not have approached DECC at time of 6 well to ensure sufficient data, or what was going to be required by DECC to satisfy fdp, leaving that until they were effectively screwed when the draft approach finally was made and concocted without support, partner or financial, this hugely expensive ewt sanctioned by DECC. Push what one can onto DECC/OGA, why was a small company made to undertake such an exercise.
from post on ii seems essential whatever is cobbled together re a fighting fund at least one shareholder from the group, and not a bod member, needs to be physically present at the court hearing.
Claims should be retroactive to the time the company was/is paying for said insurance, which is when alll the 'errors' came about.
I guess most cannot afford it anymore, but its nice to see Rupert has legal cover from XEL ...paid for by us! The man has no shame...