Member Info for highlandsbull

The dual valuations by tracs and bh should have had some relevance.

I think re the suitors the chinese had internal problems should we say at the time, latterly deal msking for those that were left or newcomers not top of the priority tree. Anyway if sto take this on no doubt they could get back in, expensively as per sinopec, then.

Price recovering for investors that are left with 1.5% of the company rather a bad joke.

And what they intend to do with it next.

It's only yet another super new deal for this management.

Right, and bondholders have $140m reasons not to want that to happen.

Generators?!

Yes, 1st option if anything significant can be obtained. Judging by the first proposal they have some ground to catch up to engender any sympathy.

That's why I'd to see a legal opinion via the likes of this pbb in advance of this egm as to just what might be actionable, and a timeline for same. Clearly shareholders for a long time have not been getting the full picture from the xel bod, in particular whether alternative options have been fully explored. If this goes to action after the egm it could take years to settle, if at all, and if it becomes anything like a us class action lawsuit the only winners will be lawyers. I don't think xel and gkp directly comparable, what's rattling the cage of all concerned at xel is imo the oga/lease situation and getting any restructuring done there before the issue of xel solvency and/or lease termination for cause by oga becomes an issue.

How does one call them to account after they have moved off and the company controlled by others? By then the horse(s) have bolted. Surely has to be initiated before this egm.

Hear hear, I'd sure like though the bod and ceo to be legally held to account for whatever might stick. The fact they they attempt to effectively walk over to newco unscathed absolutely stinks, completely unprincipled, spend $450m+, run this to near zero then ask shareholders to accept 1.5% in a company that's paid to retain 100% of the asset.

Sure that's where the guarantee comes in, on the decommissioning. Xel always too small to give that. But for the likes of sto to accede they may as well have, as they likely will, and control, the whole shooting match.

Knew ceilingcat would be there and an excellent precis given out. Unfortunately all who did attend clearly had no inkling of the 98.5% train pulling up, driver and guard being cole and kew.

I believe at the last agm and prior to that shareholders were then being fed the mk.10 line of guff about innovative funding plan and guarantor plus optionally shared misery with the bondholders, plausible as usual from this crowd. it was only subsequently, no doubt afrer parachutes strapped on, the news changed to a total give away. Personally glad did not sttend the agm for the bs given out then, would have just about cost me the value of my remaining stock in xel to attend. Vote to eject the incumbents, 100% for, does it not require a point listing for the egm to be voted on?

Quite agree. Sure it will be pumped xel has proven same, at this rate possibly not in our lifetimes however.

talking shop the pbb needs to show the strength of rejection on this from pi's, plus some form of legal action plan, possibly along the lines of attacking the bod's competence and conflict of interest, fiduciary duties and the like. Also they do need to canvass the likes of socius and cavendish to determine their views.

After all at the expense of xel a perfectly workable plan is in place, at half the cost of mariner.

Exactly, they wiil probably bring in cnooc after that to spread the risk, so cosl may yet also still get a rig in there on the back of that.

From the xel pi's point of view he may have to wait a long time..

He'a not left, just hiding in the background waiting for the call from those who think him a genius.