Member Info for highlandsbull

Four bidders, likely a collusion the end result perhaps with STO throwing in a share of Bressay as a sweetener to bring the others on board. Very remote chance alternative may be alert for one to up their offer as the Liquidators have disclosed the state of play, and indicated bids can still be tabled. Jmo. How on earth did they think this tainted management was the way to produce anything positive for both Bondholders who are stuck with substantial shareholding loss and of course pi's.

Cole the brilliant negotiator to the end. What a class act XEL had as a ceo.

http://www.offshoreenergytoday.com/xcite-shareholders-have-nothing-to-be-excited-about/

Doubtless BVI.. Cheers !

Saudis budgeting Brent at $66 for 2017.

Actually ironically as it seems to be turning out, RC and co may have a better option in hanging on to their XEL stock with the Bondholders proposal gone, in praying with the upturn in poo an improved offer to that of the Bondholders they were trying to shove down shareholders throats materialises.

Brent now at $56.50 is going to make any low ball 'deal' harder to push through, though the liquidators have shown a degree more transparency to date than ever shown by the XEL BoD.

Probably giving the Liquidators a blow by blow extended brief as to how they screwed up.

For some obscure reason somehow AF and CLC seem to manage to hang on in XER.

Tend to agree, by circumstances both Cole and Kew elevated above their competency levels, RC may be a qualified accountant and SK technically capable, but that does not make one a good ceo and the other capable operations exec, as has sadly been proven.

Imo the turbines issue failed because of the failure of DECC to agree fsp/ssp in 2011, XER were stuck with the RN rig contract but unable to commit long term on the rig charter, or rather afraid to. So the rig had to be modified for short term drill/produce work that negated the point of installing expensive turbines. Alternatively they found the turbines surplus to requirements, but what's interesting to know is where are they now, and the money for same.

And of course the wonderful ceo has been mum all along as to their identity, except being seemingly confident to the company grave all well in the funding world, industry valuation snd the rest of the garbage pi's were fed. The cfo buying in later in the mid 40's must have thought he'd pulled a blinder over them.

The bondholders entering via Norway tends to validate that comment, being stakeholders in sto. One slight thing in favour though was they did gobble up significant stockholding in the mid 60's, wonder what persuaded them that figure when exercised might show a clearly expected profit and what that might have been..

Well you never know, imo the short shrift given to the bondholders with their unvoted on proposal makes one think with the revival in brent and cost reductions there is a real chance of a significant upside to $150m to cover the bondholders. Even BP are in acquisitive mode again, just so long as bidding is competitive and not a stitch up between 2-3 interested parties.

That would be the ironic thing if the clowns that presided over this disaster were able to profit from disposal of their stock.

Yep, I can't recall any specific advice the payment related ro Bressay fdp approval, all I recall from the imperious ceo has been vague mumblings concerning phantom ndas which may or may not have related to sto and their interest in bentley. Now we even get to hear about sto's presence at presentations shareholders are not aware of with presumably confidential information being disseminated to a private invited group, and yet another puff about sto lining up a bid. Personally I still find hard to credit the incompetence of XER in not having run the ON results past decc before signing up the RN, and fail to have what was reportedly required. Why was what they did have re a non volatlie field rejected by the jobsworth in decc at the time. These guys need to be more proactive with the companies in which they are working with. Why was jobsworth for example not out at the ON on occasion to see what was going on, not leave a rejection decision to a year after the ON was offhired. Jmo.

The reeported earlier £2 offer seems like paradise now.

enlighten us about the nda's and the $1m sto still owe.

Ironic also that report on ii via oga that sto were in attendance at xel august briefing on the innovative funding option that noone subscribed to.

The phantom azinor no more in chadwick.