Member Info for highlandsbull

This bod have it seems used corporate paid lawyers to concoct an action plan to secure themselves against their fiduciary duties and the best interests of the company and it's shareholders. Jmo. Everything leading up to this should be divulged.

Good post but imo for shareholders that have been seriously burned by the bs that this bod and management of xel/r, and still have any money left to contribute to a group action best imo appoint legal council familiar with corporate law re fiduciary duties and bvi law, find some way to stymie or stall the asset sale or at least get it made open market, and/or an egm called to vote out this bod.

Its a cosy arrgt including them, paid for by xel funded lawyers. Jmo.

Dont expect anything positive from this bod, they need to be expunged from the point of view of shareholders with expecting them to be any use..

As operations director he had to be in the well planning, fdp submissions, big boy b*lls up, and the subsequent failed MOUs. He'd be a key part of any funders enquires into the operrational competence of XEL/R executives.

He has seen his way as an executive director with collective responsibility through all the operational and financial c*ck ups back to 2007 imo.

Think there was that aspect to it but by then the cost of the rbl also was several million $$ just to remain unused. Absolutely crazy.

Why could they not have gone back to funding something similar as it has been consistently mentioned rbl was still an option, and against presumably much larger 1P/2P figures. They even still have production capable wells in place, just who is going now to clean up the subsea mess still there.

When one thinks that under the funded plan they could have got this going four years ago on the fsp/ssp basis. What clown was it that sanctioned this big boy proposal without any prior funding or partner in place before dropping the rbl. One complete c*ock up after another over the years with this shower of inompetents. Now $450m has been expensed against a $2.3bn NPV-10 on which they can't even appear to be able to raise $150m after six years of trying. The real shame is they are taking thousands of smaller shareholders down the drain with them.

Doubt this will ever get relisted, complete management shambles.

Though I still think a better petition would be against oga/decc to demonstrate guarantee or financial assistance under their new terms of reference for assistance in development of strategically important proven oil reserves in view of parlous state of xel/xer to be able to provide same.

Thanks, done, fwiw..

Imo cole and bis useless bod need to be ejected forthwith for incompetence and misguidance to shareholders. And this is the guy supposed to be negotiating the future of the company with banks and potential investors, all will just be having a laugh at the success he has demonstrated to date driving $450m to near zero in value to his shareholders.

Imo waste of time trying to freeze the licence, need to be more proactive re the national resource, at decc request identified and developed to production capability by xer, status of these supposed oga assistance abilities for smaller companies re funders and/or guarantees, loss of jobs, pensions, foreign interference by bondholders, yada yada, when does talk ever become positive action from hmg. Work something out within the timeline of the licence to expiry which otherwise by precedence hard to amend.

With his office rental experience gained at xel cost he can become a rent boy. Seems about the extent of his capabilities after throwing $450m down the drain.

After all decc also had a contributory role in this disaster with the expensive ewt requested of a small company but which has benn shown to identify a huge north sea resource. Could they be persuaded to at least support this phantom so far guarantor role if all else supposedly is in place.

There never seems positive information of substance posted by this bod, do we know if as mentioned by the ceo intervention by oga possible in the light of the current distressed situation. Now we are at this stage could that be triggered?

To avoid impression of a conflict of interest/fiduciary situation arsing as the basis of any shareholder action against the bod they'd better be sure they are not tied in as subsequent beneficiaries of any bondholder action against the company. Having screwed this up to the extent they have apologetic action and exit forthwith might be their best strategy.

Yep, as usual from this useless bod we never seem to get the full or real story, so much innuendo w/o substance put over as intelligent action.

Yep, via the bondholders sadly, not this useless management who have not succeeded in same for years. If there had been something there the bod wd have had to have both notified and taken it up, rather than descend to the current self inflicted shambles over which they continue to preside.