RE: Options29 Aug 2018 01:46
Penceofpurpose continued:
You stated “You do not know what happened with the SCC. And in the end, ANGS handled it well and was correct, they had permission.” It’s all in the public domain with freedom of information correspondence releases.
SCC Planning Chairman Tim Hall (who is actually pro drilling) summed up Angus deficiencies “I do say to Angus, in the nicest possible way, you have been the least reliable hydrocarbon applicant we have dealt with. The fracas over this application at the start and the less than clear and open position you took with us does not fill myself or the Vice Chairman with great cheer……We have had to take legal advice from a QC, we have had to do a number of things that we would not normally want to do, because you have not historically been consistent and taken the right professional advice and done the right professional things.”
Even the OGA have criticised Tidswell handling as a CEO
“I think it is fair to say that the drilling operations suffered from a lack of clarity in their execution”.
“Our discussions relied on your recollections rather than a formal (documented) management of change”.
“There is technical material, both in the public domain and probably held privately, that Angus does not have or in some cases were not aware of, but which would aid the efficient operation of Brockham were it held.”
Not the best report card for a PLC CEO.
Your bizarre comment “Your estimations of cash flow are skewed, as it just pushes out the same time horizon by 4 months ( assuming you’re correct. The losses are attributed to inflation and very very small.” just shows a nativity. The oil stays in the ground, but it doesn’t mean the current company is the one to produce from it? Just look at the US Shale Companies who went bust…I guess the banks didn’t see it that way when they took the companies lol.
How many placements, share dilution and drop in the SP has occurred?
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