What makes you think the “whole of company financing solution by...

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CEOChair

15,767 Posts.

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14/06/18

19:46

Post #: 33719686
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Originally posted by tt2000 ↑

This is the email I sent. I recommend as many of us send similar emails to ensure two objectives are met:
1. We are kept informed with material developments.
2. We uncover the reason for the delay in financing.

Happy for others to use the same email - to Ian Davies <[email protected]>

Dear Mr. Davies,

I refer to my email below, specifically in relation to the P50 well run rates to which you have now referred to in several investor conferences.

As a Director, I trust that you are aware of s674 of the Corporations Act which require immediate disclosure of "information that a reasonable person would expect, if it were generally available, to have a material effect on the price or value of ED securities of the entity".

I along with other shareholders strongly believe that either of the following Material Events constistute information that a reasonable person would expect to have a material effect on price and value:

1. If the WSGP well flow rates were significantly below the P50 curve (as per Figure 1 of the announcement on 21 February 2017 ‘Senex sanctions $50m investment in Western Surat Gas Project’ which indicates June's flow rates should be between 7.5TJ/day to 10+TJ/day), given that you have previously communicated that the wells are performing in line with P50 expectations; or

2. If the reason for the delay in company financing solution is a direct result of financiers having concerns about the WSGP well flow rates (which in itself attests to the materiality of point 1 above).

We will continue to hold our securities on the basis that neither of these Material Events have occured and that Senex Energy Limited remains in compliance with its continuous disclosure obligations.

In addition, and pursuant to s173, kindly provide me with:
1. Convenient times to inspect the shareholder register; and
2. Cost of obtaining a hard copy of the shareholder register.

Expand

What makes you think the “whole of company financing solution by mid-year” is overdue? Can you provide me with a hard copy of your calendar?
What makes you think that the complete lack of an announcement stating the well flow rates were poor means they were poor? I haven’t seen an Ann the end of the world is nigh either, should I be concerned?

Utter tosh IMO, but will look forward to you posting ID’s hopefully more eloquent response than I have time for

Last edited by CEOChair: 14/06/18

SXY Price at posting: 40.0¢ Sentiment: Buy Disclosure: Held
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What makes you think the “whole of company financing solution by...

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