I thought that the AGM Mgt Presentation was reasonable but the lack of timelines / accountability continues to concern me- the “we have great assets, but…” scenario lingers on. I hope that this can change with the new Board Members perhaps shaking the tree a little.
I was unaware that the Transocean Legend contract that was cancelled by Sedco would not have concluded to date. Therefore a damages claim is still possibly work in progress. What concerns me is that the company has to the best of my knowledge, never made any public statements to the effect that they complied with all of the terms and conditions within the TOL contract. I for one do not believe that Sedco woke up one morning and concluded that it would cancel its agreement with Nexus and rent the TOL to Karoon Gas for a lower rate.
Does anyone have any inside knowledge about whether NXS was fully compliant to the terms and conditions of its contract with Sedco?
agm & tol contingent liability
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