Timan Share Discussion Threads

[coco] 21/10/2009 18:54

Miami - where do we go from here ?

[cfccfc1970] 21/10/2009 18:52

Miami,

Do you think we need a co-ordinated plan of action and if so what would you suggest. More than happy to help raise the profile as required. I have emailed all and sundry and now sitting back waiting for a response(s).
Are we still sticking to Monday 26th in which to call for an EGM and if so who would be formerly notified in the absence of Strand.

Grateful for your considered thoughts of what action you would now recommend.

We cannot give up on this.

Many thanks
cfccfc

[buzzzzzzzz] 21/10/2009 17:48

FSU

Or both!

[miamisteve] 21/10/2009 17:18

blue85 - email sent

[fsu gold investor] 21/10/2009 16:51

This isn't over until Kapalin is behind bars or we have our assets back, one or the other.

[blue85] 21/10/2009 16:39

miami - pls email me. i have something interesting

[miamisteve] 21/10/2009 16:35

Word I heard is that this isn't over yet.

Save our energies on getting this through to NRB to sort this out for the time being.

[mrmiyagi] 21/10/2009 16:22

EASY, COP!!

News just out
"COP - oil strike news out from Canadian partner but so far no RNS from Circle OIl. share price reacting strongly and, interestingly, now peeping above recent trading"

[easy74] 21/10/2009 16:21

doorway....thanks for your input.

[blue85] 21/10/2009 16:14

thats what happens when you pull down the iron curtain

[doorway] 21/10/2009 16:13

glad i didnt buy here now...too many crooks in aim...

[blue85] 21/10/2009 15:57

100% correct. got bxggered at school. maybe

[tonester30ccfc] 21/10/2009 15:49

Buzzzzz/Miami,

Raggett is a mix of arrogance and ignorance I think. A dangerous combination

Tone

[tonester30ccfc] 21/10/2009 15:46

[e-mail]

From UK: 020 7066 1000

(From Overseas: [phone])

25 The North Colonnade, Canary Wharf, London E14 5HS (Company No. 01920623)

[blue85] 21/10/2009 15:46

miamisteve - 21 Oct'09 - 15:34 - 4486 of 4488


Tonester - Surprised by Raggetts comments that he doesn't feel he has any accountability for his actions or rather inactions because he resigned.

--------------------------------

Miami - please - he's a horrid little PR twxt with floppy hair and turn ups, of course he's going to say that.

[miamisteve] 21/10/2009 15:43

Tone - post address, email, telephone number - you find for FSA - I will add it to the action thread header.

[buzzzzzzzz] 21/10/2009 15:40

How about we arrange to deliver a large bucket of water to Strands office so Ragget can wash his hands?

[miamisteve] 21/10/2009 15:34

I mentioned before. They appear to have levied a $500,000 fee to Timan for the last time we re-listed and apparently were wanting another bung this time round.

Tonester - Surprised by Raggetts comments that he doesn't feel he has any accountability for his actions or rather inactions because he resigned.

[eelbuoy] 21/10/2009 15:34

is this the company gettin rid of the chumps that got us in this mess in the first place ?

[someuwin] 21/10/2009 15:26

So Strand haven't been paid either.

[tonester30ccfc] 21/10/2009 15:16

My God, I've already had a response!


Mr XXXX

You will do what you will do.

We are no longer advisers to Timan Oil & Gas plc, purely a significant creditor, so please take up your concerns with whom ever you deem appropriate other than ourselves.

Simon Raggett
Strand Hanson Limited
Tel: [phone]
Mob: [phone]


,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

The point that has been completely missed here, is that duty of care and payment of fees are independant. Strand has a duty to perform the service that it was appointed to deliver. Non-payment is a separate issue.

In addition to the comment above, Strand was still advisor prior to suspension and during the time of misappropriation of assets.

We have lots to gain and nothing to lose in referring Strand's performance to the FSA for investigation


Tone

[tonester30ccfc] 21/10/2009 15:02

Extract of email forwarded to Strand this afternoon:



I am dismayed to see that your company has resigned as NOMAD to Timan Oil and Gas.

It appears from information issued via rns that Strand has failed to meet its obligations as Nominated Advisor and failed to provide a reasonable duty of care to the shareholders of TMAN. As a result there is potential for significant losses and in offering this duty of care, Strand is considered liable as a result of its negligence.

I draw your attention in particular to an extract of an email send to you and to TMAN in the last few days. This states,

"5) Negligence of Third Parties - We are concerned that a number of TOG's professional advisers, who at all relevant times owed duties of care to the Class, may have failed in their duties to ensure either the sound corporate governance of TOG or to ensure that the company was adequately contractually protected against the risk of default by Kamanisk. The Class is particularly concerned lest any such parties were now to take any action which would be prejudicial to the interests of TOG, in particular by threatening its possibility of relisting."

I have already referred this matter to the SFO. I will today invite the FSA to consider the position and ask them in particular to look closely at the conduct of Strand. In the event that the FSA concurs that Strand failed to meet its obligations to provide a duty of care to TMAN shareholders, it is likely that action will be brought against your company in respect of losses.