Member Info for GrumpyScouser

Last week saw the final day in court of a claim against WTG by Terry. Sometging to do with tax liabilities over past transactions. Anyone have access to this?

https://www.postonline.co.uk/europe/uk/3677311/rob-terry-appears-in-court-over-quindell-indemnity-claim

Betcha there's yet another increased holdings RNS in a week.

Somebody seems to like WTG despite the doubts.

Yes agreed: best to sell out.

The IIs dont appear to agree but I suppose they're investing not trading.

To get a Capital Return by April they probably need to apply to the courts by January for the approval (that's a guess as I have no idea how long the process takes).

They won't be able to start the application until the SGH claim has been finalised. The next court date for the claim is, I believe, Sept 2019.

On this basis I feel that April is unlikely for CR2.

Does anyone know what kind of insurance/protection/financial support SXX workers have?

Given the company's attention to environmental and social impact I wonder if this also extends to employees in high risk roles?

A grumpy old Scouse, and task master,
Bought some shares in a drill in Alaska,
When they made the last push
It gushed out with a rush
Now he smiles in a car that goes faster.

I doubt it: it was QLS who showed them the files, which is why they too were fined. Just one of the costs of doing the transaction (and I suppose reflects why there was such a relatively small fine imposed).

Yup. Its frustrating.

Unfortunately that's not down to WTG. To be able to do a Capital Return requires a Court approval; in order to get that they have to prove they have sufficient reserves including taking into account possible liabilities such as SFO or SGH.

Blames the Aussies....

Meso1973...apologies: can't edit here.

Courtesy of Meso1978 on HC. Thoughts?
With 475k acres at 65% good for hrz giving 309k acres total..
88e current share being 63% or about 195k acres good for hrz..

At lowly 1k usd per acre value for farmout..
Thatd mean about 309mill usd worth for the whole lot..
Say they go and farmout about 15% of total? Or about 46k acres or so.. for about 45 to 50mill usd worth of drilling at franklins bluff or nearby..
Thatd leave it as 15% farminee 54% 88e and bex 31% etcetc... with about 2 to 3 horizontal wells covered..

Whatever the terms of farmout end up..
It will be a very good situation when one can sit back and watch all projects get drilled out, predominantly with the use of farmin partners funds :)

-For now we have 144mmbo potential in horseshoe drill in 7 to 8mths or so.. funding covered..
- icewine western conventional of current 1.1bill net may end up being post farmout about 550 to 600 mmbo net 88e (if left with 30%) of total 1.95bill (2d figures)..
Complete free carried for 2 drills in q1 2019 targetting about minimum net to 88e 100mmbo to anything like 400mmbo (depending on 3d final interpretation in regards multistacked potential etc being pierced with same drill)..
- yukon gold is 3d'd and should be farmed out for possibly free carry on 2 appraisal wells or possibly until end pf feasibility study.. if at 50%, thatd leave 88e with 60mmbo discovered.. at 3bucks thats 180mill usd worth..
-hrz farmout.. who knows ? I hope they dont have to go lower than 1k usd per acre value.. could possibly be more.. we shall soon see..

Anyways.. after complete farmouts.. we may be watching 4 or 5 drills in q1 and h1 2019 targetting some net to 88e, minimum 350 to 500mmbo..
With chances of succes relatively high :)

Courtesy of jimk3758 on HC:
The Solicitors Regulation Authority (SRA), which regulates law firms and solicitors, said on Friday it had fined Slater and Gordon UK £40,000. It said it had also imposed a £40,000 fine on Slater Gordon Solutions Legal Ltd, previously known as Quindell Legal Service.

The law firm must also pay the SRA’s costs of £26,000. The SRA said that Slater and Gordon UK was found to to have breached its rules between December 2014 and February 2015 by looking at unredacted confidential information from 7,087 client files of a Quindell firm without clients’ knowledge or consent.

https://www.ft.com/content/d5e3f9da-7bb6-11e8-8e67-1e1a0846c475

@lebugue-addick: good to see you too, sir. It's been a long time.

I've a significant (for me) investment here which still feels sage: investment rather than short-term trade. I don't post but read virtually everything here, in HC and 'the other place ;-)

To open my eyes yet?

Seems so ;-)

Correct.

Not me ;-)

@S4lmo: I am thousands down. That doesnt mean I'm shaking like a leaf. I have yet to see ANY facts published by the company OR any reputable source which indicates my investment is foolhardy.

Times like this flush out the ones you would, and would not, want to be in a trench with when the bullets are flying. Relax people: have a cuppa and read an ironed copy of the Times whilst the headless chickens flap all around.

@Dub88 : I for one appreciate your healthy questioning of the detail (I also have some mixed experience of doing business in GCC states since '99). I don't think asking questions with negative connotations is at all unhealthy. It's very clear to all when it's genuine... If KPMG and PWC had shown more 'professional cynicism' they wouldn't be in the poop they are these days :-)

Im looking forward to: Pleased to announce that work has ceased.....the whole team have spent 3 days totally bladdered, having discovered gushers all over the place. Work will resume once they have sobered up and stopped laughing hysterically. Have a good one.

Yes, I plan to buy more on a dip: there's nothing that seems to indicate a faltering of performance. Far from it, IMHO: a product set which is fast becoming 'the standard' for its category and investment in a more solid foundation/leadership in NA. Lovely....cheers m'dears!