Member Info for highlandsbull

The oga are supposed to have a remit they have awarded themselves covering a multiplicity of options to move uk inc along with strategic assets such as Bentley. They need to be pressurised also to deliver on that or at least have markers put up as to their near as expected uselessness as per the bod of xel/r.

Fortunately I mostly moved on some time ago, just like to see this bod shafted like they have both I and others with their complete incompetence.

Why are oga as is their stated remit not sitting in on xer board meetings to get clarity re ongoings there.

Hopefully if there is seen to be substantive protest both with oga and the court, while they still can whoever behind this will have to come clean as the timeline for them running down as it is for xel.

Fortunately ii more active, with oga imo they shd push the fact xel/r/shareholders have spent to get Bentley to present stage inc tax losses at behest of DECC so where are they/oga over small matter of support re funding and guarantee to take this forward re their declared remit for ukns development. Also the liquidator that states not appointed yet, someone to stand in the bvi court for shareholders, sure rep for said liquidator will also be there.

Relatively speaking will cost little for two shareholders to visit the court 5/12 to make representation to the judge, query the liquidator re open tender. Better imo that waste money on lawyer.

take, tickets, sit in on the case.

This talk on ii of £100/head would mot tale much out of that sub for two r/t tickers to bvi to sit in on this case

Be heard. Make a representation to the judge that the liquidatior should conduct open tender for the xel/xer leases, bentley and Chadwick to a disclosed list of possible bidders, msjor oilcos. The asset value is hopefully not just treated as $140m, the amount of the bondholder debt, plus the amount that xer owe xel should be determined as being due in liquidation and be an acknowledged recoverable claim.

Are they not first in line.

As mentioned Willins will not care, seems crucial at the bvi hearing a shareholder's representative is present to present the case for open bidding/data room for Bentley, can't believe XER will be allowed also at this rate to hold on to the Chadwick licence by OGA when that come up for extension.

agree, it was stupidity on the part of xer to not have approached DECC at time of 6 well to ensure sufficient data, or what was going to be required by DECC to satisfy fdp, leaving that until they were effectively screwed when the draft approach finally was made and concocted without support, partner or financial, this hugely expensive ewt sanctioned by DECC. Push what one can onto DECC/OGA, why was a small company made to undertake such an exercise.

from post on ii seems essential whatever is cobbled together re a fighting fund at least one shareholder from the group, and not a bod member, needs to be physically present at the court hearing.

Claims should be retroactive to the time the company was/is paying for said insurance, which is when alll the 'errors' came about.

Shame shareholders dont have their own representation at the court.

And who it was that showed up for d/d, why were the commercial terms that presumably had been made in principle prior to that not acceptable in the end as presumably there was nothing wrong in the TRACS and Baker evaluations.

A buyout if the static becoming of concern?

What I do not like is how little we have been consistently told by the company about who the bondholders are, the earlier nda's, the missing sto money, and of course the phantom stg5m gensets. Many questions need frank answers here.

similar deal with COSL to get started. http://splash247.com/sirius-petroleum-signs-financing-contract-cosl-drilling/

And how this if at all relates back to us ofice as pinki advises for both bondholders lawyers and that of liquidator, plus connections of same to statoil.