Xcite Energy Share Discussion Threads

[eow] 26/10/2016 11:38

It does that...tough behind the scenes bit when its rattled, so keep up the good work.

[cyan] 26/10/2016 10:54

Good morning carla1.

Thank you for the thoughtful pm you sent me.
I would not invoke anything remotely religious when it comes to business; invites very bad luck.
Unfortunately you appear to have had rather a lot of that.

[carla1] 26/10/2016 08:38

Cyan lying low today... :-) karma GENL

[ramas] 26/10/2016 08:01

Not from Rupes we didn't .....

[11_percent] 25/10/2016 21:53

carla1, try SXX, good short, but not yet.

[11_percent] 25/10/2016 20:10

ramas,
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ramas
25 Oct '16 - 18:48 - 60690 of 60692    0   0
Not a fekking squeak from Rupes .... a debacle of his making

========

You got an rns from him a few hours ago.....get a grip.

[11_percent] 25/10/2016 20:04

Well, here we are.......XEL = zero.

Don't know why the bondholders have decided to go for liquidation.

They must be very sure they will get Bently. Don't know how, but will watch with interest.

The rns says that the company will remain in operation, so XER still have the Bently licence.

Don't know, can the bondholders buy Bently from the liquidators.
Does not worry me, just want to see exactly how they get it all.

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Carla1, congratulations on your shorts, the money you have made here over the years.
Have a look at SXX, it is just kicking off.

[earlgreyhot] 25/10/2016 19:01

Bummer. GKP sailing perilously close too IMO.

My sympathies to any decent hard-working striving folks here who've been severely burnt by this. I guess the take-home message has to be that secured bonds are something of a shrieking red-light alert for PIs.

[ramas] 25/10/2016 18:48

Not a fekking squeak from Rupes .... a debacle of his making

[o1dsmokie] 25/10/2016 17:38

Warning: Watch out for the lying shorters operating on this thread.
XEL management are aware of the slanderous allegations being levelled at their Company.
-----------------------

From the lying header, Karlala is about to be collared along with two other aliases he uses

[eow] 25/10/2016 16:47

I DONT KNOW CYAN i AM LIKE YOUR SELF A NON HOLDER OF XEL.
VERY SAD THOUGH.....POOR CARLA

[cyan] 25/10/2016 16:42

I understand your frustration eow.

This line from the above is critical;

"Faced with a request for consent to such an assignment, the OGA would take into account all relevant factors"

Before the money was given by the BH's the OGA must have agreed to the assignment.

Who would lend the failed management any more money without a good security?

[cyan] 25/10/2016 16:22

I researched and posted this on LSE;




Here are a couple of extracts;

Charges on licences
"It is common practice for banks lending money to companies to demand a charge on the company’s assets as a form of collateral. Creation of a charge on a Petroleum Act licence is controlled in accordance with the model clauses attached to each licence."

and

"If a borrower defaults on the loan, the lender may wish to seek enforcement of the charge to have a licence interest transferred to itself (possibly after appointing a receiver). This would constitute a licence assignment, which is controlled in its own right under the model clauses. Faced with a request for consent to such an assignment, the OGA would take into account all relevant factors, including the expectations of the lender. However, the Secretary of State must exercise their discretion in each specific case, and this cannot be fettered by earlier promises to take, or not to take, a particular course of action. The OGA will also not make such promises."


I doubt very much that $149 million would have been supplied if the BH's did not have all the legals sorted in detail.

I do not like to see innocent Pi's lose money. Denial is part of the grieving process

[carla1] 25/10/2016 16:21

these HORRIBLE NASTY PEOPLE have maybe got it wrong.....

[eow] 25/10/2016 16:06

Exactly & "Unless" the Bondholders" are an Oil Co then they cannot take the licence.

But its not all sewn up yet, as usual the RNS is full of if's & maybe's...no fatty is singing quite yet!No matter how much you'd like it to be CYAN

[stonefold] 25/10/2016 15:44

I can't see the UK licensing authority letting XEL XER proceed as any kind of licence holder.



At the bottom of the page there is a exemption from the things put up for security for the Bond - for 50% of licences 9/4a, 9/8b and 9/9h.

[cyan] 25/10/2016 15:34

"No I dont agree...I think this Bod are trying to save the licence"

They can not save the license. It was the agreed security. They will lose the entitlements.