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Boom boom, there is truth in what you say, however do not lose sight of some fundamentals. Pensacola and Selene are in the Southern NS and Gas Fields. Buchan ( JOG) is in deeper water off NE Scotland and an Oil Field. The environs between the 2 could not be more different. JOG 2 years ago were planning 1st Oil in 2025, then last year that changed to 2026 and now 2027.

Deltic along with JV partners made the largest Gas field discovery in the last 10 years. The area of the Gas discovery, as Shell know well, is a much friendlier environment with delivery infrastructure close. Shell know well the value of these assets and I suggest understand this headlong race to acheive Carbon neutral is domestic cost of living suicide. There are a number of reason to make this statement.. Green energy is seeing vast tracts of valuable food producing land, covered with Solar panels for which Land owners recieve at least £1000 per acre each year. Most arable and livestock farms will be lucky to acheive a 1/5 of that as net profit each year. Add to this the cost of supply,fitting,maintenance of Solar panels, the required infrastructure ( distribution cabling, transformers etc). The overall bill runs into many millions all payed for by the Green Levy. In other words EVERY consumer who will be poorer as a result. Lets hope the Sun keeps shining!

There are other technologies coming in that will need Natural Gas as a feeder stock to produce Hydrogen one of the most green energies available. Shell knows and are prepared to bank these fields for as long as it takes.

The problem for Delt, as I see it, is a fundamental failure to agree and manage ALL potential outcomes in a way that protects it's Investors. An unforgiveable failure of competence which lies firmly at the door of the CEO.

AIMO

Nothing unusual, I get them from Admin on other companys in which am invested.

DP, sorry for the late reply. In essence, I beleive Graham Swindells wanted some comfort for today's meeting and Shell obliged.

Was unable to attend the AGM, it would be good to hear reports of those who did attend as my view is Penscola is already lost. I will be very pleased to be wrong?

GS knows the outcome. His words are well crafted.

He was attempting to avert a revolt at today's AGM.

My guess as nothing landed yesterday, an announcement will be made at the AGM on Tuesday. Probably a cunning ploy on behalf of the BOD who must be fearful, very fearful, of a tortuous face up with shareholders.

Hope many will attend to emphasise the strength of feeling amongst ordinary PI's

99......in my experience, even though they have obligations to shareholders, Execs have and do remain part of the Privateer Group. Have seen where an " Independant Exec" is appointed to "Safeguard" shareholder interests. In return the Independant gets a Golden Handshake.

Convertibles would be a good plan to enable valuable assets to be acquired at little cost to the Funders.

We are just little fish surrounded by sharks!!

Spike, correct. Any SP value is normally based on " the latest closing market price" at the time a proposition is put forward.

99.... select funders could be granted conversion stock providing it is within existing financial protocols. Otherwise a resolution is required to obtain the necessary authority. I do'nt see that as a problem bearing mind the funding parties will have that element tied up.

An interesting announcement which has both positive and negative conutations.

The Chairman designate does have a wealth of experience and a number of varying Appointments. He is no fool and must be aware of the present and historic issues that haunt TGR. What are his terms of engagement? Remuneration and share grants. Is he to work for nothing and rely on performance, being payed in Shares?

Shishir will remain as CEO, what controls will he hand over to the Chairman Designate? Will those controls be wide ranging to involve reveiw and changes to inter company understandings, both servies provided and product pricing.

This appointment could be the Golden bullet depending on many factors under the control of the Poddar Family.

Cunningly the appoinment is subject to the FTG being voted down.

The reaction of the FTG is awaited.

I am still to vote.

Having been involved in such a situation, a few years ago, Ordinary PI's would be faced with fete' acompli.

an offer will be made based on middle market price + ( portrayed as a generous offer). The Privateers will make sure they have the votes to carry a resolution which is put to an EGM. If Ordinary PI's are allowed ( very unusual) to retain shares in the Private Co, sale of shares will be restricted to pre-determined Buyers ( the New Board members) at pre-described times, usually annually. The Valuation of shares is arbitory, the BOD will decide. In essence when a company goes private, ordinary PI's have very limited rights to trade shares.

Ekimp, GS is a tool of the major holders.

An announcement could be made before the end of play today, otherwise an update at the AGM which may be a torrid affair. The atmosphere at the AGM will tell ordinary PI's more than anything.

Spike makes some reasonable points which need to be considered alongside current events, Political and Commercial.

Sunak made it clear yesterday, NS Gas will be needed for many years to come. Whether he is beleived and indeed unlikely to be in Power after July 4th.. Starmer is conflicted by Unions demanding employment protection and on the other hand "Stop Oil Brigrade".. For anyone with an ounce of inteligence, energy will be needed perpetually. The mammoth transition to other forms will take many many years. The Carbon cost of the transition is being conveniently ignored, many wonder why?

Shell's reported position is rather more tricky. Is it a Red Flag to Government or a pure Commercial decision? They are not only selling Gas Fields but infrastructure including the Gas Terminal at Bacton.

MS & RS are shrewd operators, which considering their determination to gain greater control of the company, when taking up disproportionate level of shares on more than one occasion.

If not today, the next 7 days are going to be extremely interesting.

Ekimp, got it in one!

Exactly, it can create a smoke screen for gullible investors.

GGG, nothing should surprise you here. Have kept the faith for hell of a time and have wondered why!!

Not on telegram and not secure to share contact details here.

If the information is within the Public domain there must be links

If there is no scope for tampering, share the links or sources with everyone who are invested??

Spike, spot on with Selene. We could find ourselves in the same position as now with Pensacola.

The report of Shell's sale of Gas fields in the southern NS could be a sign of things to come?

I have doubts the rather simplified sales data is accurate, Dirty tricks are at work on both sides.

An Independant Audit of transactions is crucial.

Havealot, wrong. VAT is chargeable on products sold, i.e flaked material to Panagraf. In turn Panagraf as an exporter is allowed to reclaim the Tax. TSG will be paying VAT on the majority of supplies including the services and machine hire it receives from Panagraf. In turn TSG are able to deduct the tax on inputs from the output tax. It could be messy with the inter company relatsionship that exists. The bottom line is Panagraf are entitled to reclaim ALL of the tax it has paid on material purchased which is then Exported.

It is NO Red Herring as you suggest but could be a clever Creative Accountantcy that feeds Panagraf's profit and loss accounts.

It has everything to do with Panagraf as Hemant has stated. You need to open your eyes before ridiculing others.

Is it likely, having been charged VAT, Panagraf have received the refunds we keep being told about??

Possibly this is something Hemant knows about when referring to the account crossings, in his letter.

It would be good if Hemant can point us to where the accounts can be viewed!!

DP would be amazed if there are not sufficient Shareholders and Investors, prepared to fund given the size of asset ( Pensacola).

Your comment regarding Large Shareholders, is nearer the truth than you realise!!