Old Post - 19th January 202124 Jun 2022 09:29
I am copying an message I posted last year. There was another post I made where I stated that handing over the pipeline to a third party company was the worst possible deal I could think of, I still think that decision was madness. I can't find that post.
Take a look at this message from January 2021, the part where PB said it's a trust deal.......I still can't believe the pipeline deal with NGC was made.....
"Just spitballing here.....you know I am uber positive about the Mighty TXP....but....
A couple of months ago I stated that I was nervous about the NGC contract, namely that it was taking so long to sign. After watching PB on the YouTube interview today I have to say, I'm not happy with what was described. A contract without penalties for NGC is not much of a contract in my opinion. I understand PB does not want penalties for TXP should we get a duster but we haven't got dusters, we have 'world class' discoveries.
What if BP and their Ginger field look more attractive to NGC? Can NGC just turn around and say that our TXP pipeline is not being installed? Then what? If there are no penalty clauses then presumably there would be no come back and ultimately we would sit with our 'world class' gas fields but with no pipeline or customers.
On the face of it, the 'biggest contract we will ever sign' isn't that protective to the interests of TXP.
Before anybody says I'm talking rubbish, PB even says in the interview 'I hate to say it but it's a trust approach' Trust in business is only ever useful if things are going smoothly.
Hmmmm......PB......I don't know sir, I just don't know......
I know this is the best board on LSE but I want your thoughts please and do not hold back if you think I am completely wrong. I just can't reconcile this in my mind.....'
That £1.50+ we had for a while was nice for a while......
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