Member Info for MikeGP

Ned,

If you want to pick up the phone to them and request the info I was after,..ie what's the process/timescale and shareholding requirements should anyone want to put forward motions etc., at an AGM that would save me a job!!

Registrar Name Capita Registrars
Registrar Address The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU.
Registrar Website http://www.capitaregistrars.com/
Registrar Telephone 0870 162 3100

Moving house Ned!

Nothing from Registras,... got back in touch with Tom... he said forget the e-mails,.. call them,.... and I haven't yet as too busy!

I'm doing some homework when I can on the issues that I would like the BoD to address,..provide more info on etc.,... with a view to sending that to the relevant Board member/ Non-execs/Tom,.. a few weeks prior to the AGM,.. in a hope that will put them on notice/prompt them to address those queries in the pre -AGM statement and at the meeting.--

I won't have time to do much over the next week or so.... could possibly meet on Friday 3rd in London,.. I'll be just south of the river,. the Southbank Tower. Could meet any time during the day,... to early evening-- but have a dinner appointment. Sorry, but I can't do the other day you suggested, the Sunday?-- It's probably premature to meet anyway,... with the Trading Statement due in 4 weeks. I am travelling from the 1st May,.. until 4th June,.. but maybe worth meeting as soon as I am back,..( but again I think you were also travelling?).

Kyarra,..

Yes,... meant TE-10!!!!

My expectation (and hope) is that everything that’s happening at the moment is being done within a controlled plan with the intention of maximising value and selling,
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Couldn't agree with you more!!! I think we need to do two things..
1 Get a commercial flow rate out of TE-11
2 Trust JP to do, arguably, what he does best,... do the deal.

Best

ddboy,

I don't think we would have been weeks ahead,.... because the critical path item for the testing was the tubing. They were never going to get that to site pre-the main drill etc., and until they knew that they had something to test for the reasons given at the BB event.

I agree they could be further ahead with the TE-11 drill,...... but.... in that case, as I said before and James said at the BB,... the reason for not pushing ahead immediately is clearly related to his assessment of the deal that might be achieved in respect of the LE.

Other bits of the puzzle should also be about to fall in to place, completion of the FEED on Processing Unit,...confirmation of finance on the Pipeline and Processing Unit.... the GSA (!!!!!!)...

Not long now either way, I'd guess at two or three weeks for preliminary test results, of the un-stimulated and stimulated flows rates. But something could drop at any time.

Fingers cross.

The rig is sitting idle for a number of reasons, most of which are in the public domain;

1 The location of TE 11 fell outside of the EIA that had been approved and so they have had to back for the relevant approvals. There is some limited site prep works that they could get on with but not really worth the mobilisation at this stage.

2 More importantly, the second well, TE 10 is a discovery.... and testing is underway, It's quite clear that James and the Team wants to establish what we have before taking the decision to drill TE 11 or not. We know that he has spoken many times of the 'Cinderalla' moment,... when you have to a risk/reward view on what might be achieved, or lost, in terms of the LE by further drilling, or not.

IMHO,.... that is the primary reason TE 11 is effectively 'on hold'. It has nothing to do with kit on site etc., it is simply part of the 'end game' negotiation and prelude to the LE.

A good flow rate at TE-10 and I believe we will be immediately game on and he will be looking to sell. If that is the case,... and there is interest,. ( as we have always been led to believe)... then the LE could be 3rd qtr. Fingers crossed.

Yes,... could certainly bring in a lot of Money Money Money....... keep your eyes on the prize,.. the Winner Takes It All.

I'll get my coat.

gibbo,

you have mail,

Best

Gibbo,

Would be great to see you in London for a meet and chat.

Just saying.

Gibbo... on the 25th Jan '19

You wrote:

RE: The Tech contract
25 Jan '19

I'm looking forward to an update on the African contract too, I have a strong suspicion that there is already one set of signatures on it. Tick tock.

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That was on a Friday..... and then just 4 days later, the following Tuesday,......WSG issue an RNS to the stock market that should have been completely embargoed saying that they had signed such contract, but the client hadn't,.. ie there was 'one set of signatures on it',.. precisely as you had predicted just a few days before?

RNS Number : 3270O
Westminster Group PLC
29 January 2019

“In this respect we announced in December that the Chairman, Sir Tony Baldry, and CEO Peter Fowler, had recently returned from Africa having finalised discussions on one of our long-term airport security projects. Contracts have been drafted and, at the request of the client, Westminster have signed, and we await counter signature from the government.”

Quite a co-incidence?...or...

Lottery numbers for this week?

Gibbo,... not so much vino during the day!

Best

Ned,..

I will be in London from 3rd to 8th May if you are around. I know that you said you were about to go away for a few weeks so not sure if that works for you,.. or anybody else that might like to sit down over a pint or glass of wine and have a pow-wow..--- for what ends you might be thinking,.... well at the very least to discuss what is going on at WSG,... where/how we feel we have been let down,..or kept in the dark and how we might target them at the AGM in order to hold them properly to account. I'm not suggesting Votes of No Confidence etc., or ousting people from the Board..,, that just isn't going to happen,... and, in fact if these contracts are close,.. than it could actually damage our chances of getting them across the line. But equally,.. I've had enough of PF running this like a private company and I intend to raise that at the AGM and have it on record,..including questioning of the due process,...in making those appointments. His son for example,... finishes his degree at Uni,... 2 years later appointed as head of IT at WSG?... and two later appointed as a Director? REALLY?????----

I'm doing my homework now,... on a range of issues,.. and they will be discussed at the AGM,..one way or another.

https://www.facebook.com/SovereignFerries/videos/vb.393325620834583/2213752175564267/?type=2&theater

Sierra Princess,..now in service..... where's the Queen I wonder?

I have witnessed, first hand, the consequences of a fellow board member crossing PF. Not sure if it was merely theatrics or a confirmatory insight (for me at least) into the daily function at Banbury. Either way, it was unsavoury and said board member is no longer there. He was neither friend, I suspect, and wasn’t family.
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Care to elaborate..? Not naming names.

MENA land rig rates
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Are we operating in the Middle East?

Novice 14

Any news on the Per Fischer visit?
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Not that I have seen...... I e-mailed the British Iran Chamber of Commerce who were meant to be instrumental in setting up the meeting for time/dates etc.,...... surprise, surprise no reply.

Best

Thank you to whoever posted the link recently........ interesting listen to that again,... and there was a section at the end...one on one with James,... and he appeared to be far more open to the concept of selling just the asset? In the past he used had usually been more bulllish on selling the whole company, quite often citing tax efficiencies for doing this,....--- but there seemed to be a change in his stance and positioning,... did anybody else pick up on that. Might be one if the reasons that there has been little progress on Sidi over the past 12 months,.... ? .... and would also explain why there has been several 'tidying' up exercises on the Tendrara licence area/ownership..... ensuring that we have a 'clean' package to sell. Would also explain why no rush to drill TE-11..ie they have a buyer/sell strategy already in place for this asset?

Just my thoughts.

Did anybody else get that vibe?....

https://en.mehrnews.com/news/144277/Iran-Switzerland-to-witness-increase-in-banking-ties-Swiss

Yamsel,...

Remember the strategic review of the business,...years ago,..... maybe needs another review.

It's all well and good chasing the transformational contracts,... and let's face it we'd all be delighted if one came off,..... but the nitty gritty of the company needs to make money,.. without theses,... because it is quite clear,.. that these are not straight forward to land,... and the timescale, scope and deliverability of these contracts is largely out of the hands of the BoD.

This will be one of the main thrusts of my call to accountability of the BoD at the AGM.