Member Info for fairdealer20

Now 2 calendar months on. How much extra time do Auditors require for a company of this size?

Could they have discovered irregularities which cannot be answered?

Read the GTE Offer documents ( a huge file) in particular Majid's Irrevocable Undertaking. He agreed to encourage Shareholders to Vote in favour therefore any contact with him will not be Independant.

https://i3.energy/granterra-offer/

The Company Secretary should give advice. Failing that a submission to the Court ahead of the hearing should be considered. The Court would not be impressed to read a Democratic Vote has not been handled fairly and properly.

The Court does have the Power to adjourn the application from I3e and GTE

You need to raise HELL with Halifax . Even threaten FCA complaint.

It all seems contrived for one reason.

The Court needs to be advised as the process is clearly not transparent and honest.

Voting online deadline is tomorrow.(2nd October)

GGG, Stas

Keep the faith!

Give a Manager at Halifax some ear ache.

Whatever happens with Selene, Sneller has probaly worked out with the Economic incompetence, the coming fund raise, better to lose £3.5m now than commit and possibly lose more later.

Should Selene turn out a success,is it likely a farm in partner will be well aware of Deltic's parlous financial status and exploit?

Purdey I agree. Sneller was encouraged to come in by Michael Spencer some 4 yers ago. Between them they took exceptional share of the last 2 fund raises. Major holders will have easy access to the CEO and no doubt received information on a discressionary basis. Sneller's holding averaged almost 60p/share so he has taken an enormous hit.

Someone is either very nervious or knows something!

If Richard Sneller or Michael Spencer, well enough said.

Graham Swindells is toast

In just 2 years Graham Swindells has managed to get rid of almost £16m ( last fund raise). relinquish 30% Interest in the largest NS Gas discovery in the last decade and still leave the company with a £1.9m debt to it's JV partner.

Dyas and Shell must be laughing all the way to the Bank.

Would you give Swindells a job once his tenure as CEO vanishes?

Pointless trying to understand the management and commercial acumen of the CEO and his cohorts, who continue to take fabulous remunerations, for what? Meanwhile loyal LTH's are seeing the appalling way assets have been given away. Lets hope Selene comes up trumps or could we be in the same situation faced in early summer with Pensacola.

Against this background and the current economic position, it will be very difficult to get a Fund Raise completed. That will be the end of this never ending story.

Shareholders need to ask themselves, " would I invest in a company heavily exposed in S. America where bandits control much commercial activity for ransom". have a virtual 100% debt load, pay NO dividend and unlikely too. Even though that company consolidated shares a year or so ago which temporality elevated the SP and has now tanked,

OR

Would you rather invest in a company with cash balances, paying dividends and proven assets without the threat of Political and or Bandit demands?

Will the company survive the next 12 months?

The going concern statement does cast considerable doubts. Cash running out, have ideas to seek opportunities overseas ( Cluff and Spencer invested in Africa 4 years ago). Fund raise coming within 6 months.

Incredible withdrawing from Pensacola not only depleted assets by £11m but Deltic required to pay JV partners £1.9m as contribution towards exploration costs. £1m of that being payed now, the remaining £0.9m will be payed over 24 months from December 2024, however this residual amount attracts a 13% coupon. Quite astonishing an Accountant (GS) has got us into this position. Do wonder had Shareholders been approached during the Pensacola debache, would we not be in a very much better position.

Find it difficult to wax lyrical over the statments just released.

My opinion of Shishir is well documented, regrettably my worst thoughts seem to be on the horizon. Each day that goes by says TGR are unlikely to return from suspension.

Unless we have been misled regarding the credentials of the Chairman, is he a backdoor asset-stripper?

What has happened to Saluc who posted relentlessly when the requistion group were active!

Is Saluc a pseudonym for Shishir??

Follow the herd if you wish, wise men use their experience and live with the consequences, good or bad!

Never change Horses in Mid-stream.

Bots

Do you have occular issues? You should read and fully digest posts regarding the TO

You seem to find it easy to rubbish anyone who puts forward submissions that are at variance with your determined agenda.

Any claim the company is/has been transparent is fallacious, for the following reasons.

Whatever the rationale behind secret dealings Shareholders are entitled to know, if only to be told “” interest from various Partys has been received. Further information will be released shortly.””

Nothing until 20th August when it seems a deal had been agreed with GTE when negotiations had been ongoing since February, 6 months earlier, way before you invested in I3e and began posting. Anyone who believes that is transparent should see a psychiatrist.

Majid was waxing lyrical about the Company’s future when releasing financial and production projections for the future when publishing the Corporate Presentation on 30th May. Note, no mention the company was for sale or receiving interest from willing buyers.

To claim the company has been transparent is fiction, emphasised by Majid’s failure to engage directly with Investors in the recent Proactive interview which was scribed to bolster/encourage support for the deal and NO real and substantive questions were allowed. The interviewer was merely a stooge.

You suggest the unsolicited phone calls to “members” are acceptable and yet it is strange the caller when asked only gives the name of the call-centre and refuses to disclose who requires the information being asked. If as you suggest the caller acts for I3e why the secrecy? These are the acts of a desperate Board, and is clearly not transparent. If for any remote chance the vote is positive, it will be for the Court to judge whether or not the Board has acted in the interests of Shareholders, not personal benefit.

I suggest you familiarize yourself with the Shareholder Agreement, if you can find it!

It will be interesting to know which way Mark Slater is going. He is one smart Fund Manager who will want the best value either now with an enhanced offer or possibly looking to future potential of I3e

A Court will listen to an interested/connected party, providing the submission is factual evidence based. It is no good shareholder(s) arguing the offer is not enough, that means nothing to a Judge in the face of a recommended offer by the BOD, and will be thrown out.

A submission would need to focus on lack of transparency, time lag in Shareholders being informed. In short BOD has failed in their fudicial duty.

The Court process will be pulled should the required vote fail to achieve 75%. Both I3e and GTE will be aware of failure well before the Court date. In such an event the actions of both Boards will be interesting. It is concerning that Shareholders are receiving unsolicited phone calls.

Jun_man in your opinion do shareholders have a Right to approach the Court.?

It Is interesting to know your take on the Court process??.

That may well be the Plan, however Shishir and his cohorts, need to be very careful as they been open to an SFO investigation