Member Info for eskibeatbeater

Ridiculous isn't it. But what makes it even worse is that you know he will likely get away with a slap on the wrist and a fine at best and therefore this unbelievable excuse will suffice.

Spot on. The great north sea heist.

Yes, personally i'd prefer that route at this point

This is what I'd been saying. I'm optimistic (as you can be with aim, fogazi oil companies and corrupt judges and UK government and administrators etc etc). There is tax credits, a producing well, total deal not off the table by total themselves and prospective buyers. So I say, people, chill Winston. Will soon unfold.

You never know, the may even ramp up production, increase the choke and lessen the downtime (within the realms of what's possible) to enable more value creation to pay said dividends out of profit post our fee. That's why I thought at some level, they would still push if possible for the total energies deal to boost that more so. Having said that, I guess, with what money would the even purchase it now. Accounts due soon will be good.

My view point has always aligned with Corry and Ned in this. It's a limited company. It's not in administration therefore it's not going to default and leave us as unsecured. If sold, unlikely due to what's been mentioned endlessly, then we are due the 17.5% of procedes. If not sold and continues to flow until EOD the. Same deal as currently. As it stands, we only really miss out on total deal which is rubbish for us but also for hurricane. If they kept flowing and used the tax credits and purchased total that would pump out prodit quicker :(

Wild to say and almost very unlikely, but, on the cheap, would it be worthwhile total energies now considering buying prax upstream. What a change that would be. Ultimately I have grounded myself to most likely we will continue to get what we have been getting. However that may be, slow drip over the 6 months or upfront with a fire sale. I can't see us being wiped out entirely and I I think it's highly unlikely a further purchase would go through (total) regardless if that would have utilised tax credits and made the whole upstream side even more profitable and able to supplement the outstanding tax bill or subsidiaries. Also, with this tax owed, has it taken into account the tax credits? Could these be used to offset another subsidiaries tax dues?

The tax currently owed, how far back does this go? Did they purchase hur specifically for those tax credits hoping they could be utilised to offset a growing tax bill? Who knows, just my musings.

At least. Wonder what othe skeletons considering those tax duty payments should have been made monthly.

Thank you violet. Between current DCU holders there is a lot of confusion on where we currently stand. Is prax exploration and production unaffected? Will we continue to receive payments? Will the total energies deal go through? Will this subsidiary be sold from the parent company?

Thank you and we await some guidance.

Adam

At least the email is still being monitored. Let's see ...

Dear Adam,

Thank you for getting in touch.

I am looping in the Teneo team handling the administration – they will take forward communication with you.

Kind regards

Violet

So, theoretically if we sold for £100-150 mil. We would be equal or better off which is a 100m less than was payed but you know that was based on sabotaged performance figures. Probably plenty of oil way outlasting projected.

Sense, agreed, I think there may be some skeletons and bad deeds discovered, who knows! All I believe is, kever must have some affiliation or be some sort of plant to them but would I do ask, you really send that in.

Judging by the article from laser, it appears they haven't closed the door. I take it as the delay and lack of completion is not on the buyers side but due to prax situation, which must have been known a while back (hence why the Westminster glazing is even more ehhh). I believe should prax be able, it would complete now and I'd imagine this remains on the table for whoever takes over prax (if such happens) and will still allow utilisation of the tax credits. Plus, I haven't heard of many others queuing up to take on that total deal and judging by their willingness to sell it, I'd imagine that's still the case should someone be credible and able.

On the tax credits, did they have restrictions? Could they have been used against the yearly profits prax have had over the last two or years. If so, I wonder the value of the tax credits today.

Laser, do you know the revenue prax gets for the average offload? Rough figure.

"Not yet completed".... so it seems the door is not entirely closed. Now I'm not sure if this is possible as I'm not well versed here. But, couldn't the subsidiary go it alone, moving away from the parent company. Total deal still happen? It just doesn't make sense to disregard a profitable deal that's complimentary to our current producing wells. Why would they disregard and waste the tax credits.

Laser, you always have the figures. What is the median value of each offload?

Everyone, what do we think a potential sale of this subsidiary containing hur could obtain. Given the circumstances, I'd imagine a low to mid offer?

I must be honest, I haven't kept of with the figures and offload details in last 7/8 months.

I want to know if we would be best with this just sold on, with current assets and tax credits Vs no total and just running on our existing.

Yes, if we are sold now, we would get 17.5% of the proceeds of the sale as it's revenue not profit based (or am I wrong on that?).

Therefore if sold on now, surely with the fee considered, it would be a considerable chunk that may get us closer to or even max out our total consideration of 6.48. where as just continue to operate as we currently are without total we are unlikely to get close to our 6.48 total.

I agree that current AM situation may deter but also there is those tax credits. I can't understand why they weren't used earlier and also surely they won't just be disregarded by prax or a potential suitor.

Corry, we must be thinking alike here. As I was also pondering that if what Ned says is correct then maybe it's for the best to be sold now. Taking into account the AM and assuming total is of the table. As surely, that would fulfil the remaining of DCUs?

Lastly from me, what I'm stuck at is ..

if prax exp & prod is profitable, has tax credits available from HUR and doesn't want to waste those. What not continue total deal. Would make prax exp and prod vastly more profitable for a nominal amount (taking into account tax credits). Why waste them and disregard the profit which would be reaped? If this is the only profitable subsidiary, why are we not pushing on? Why sell or pillage it to assist flailing subsidiaries and even if that's what they want to do, assist flailing subs or sell prax exp, wouldn't it make it a more profitable sale to complete the deal? Wouldn't that allow more cash to funnel into flailing subsidiaries (I don't see why you would with oil dropping - if the refinery and stations aren't profitable now, why would they be further with oil expected to drop further) just pouring further money down the drain.

Thanks boxers and Ned..

So as it stands, what do people think is most likely?

A) nothing more, dcu gone bye bye.

B) we will continue to receive as we have been at the previous rates relative to our current production?

C) nothing to worry about for us. Total deal should still happen.