MS, you are correct. Appalling outcome. They should have got...

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bubby

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01/03/17

08:49

Post #: 22996385
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Originally posted by MagicSeven ↑

I have just read again the financial statement 2015 report from tgs (Page 6!!)..
And there we have some interesting fragments.

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View attachment 484211
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Here what I want to highlight out of the above report (financial statement 2015 - page 6):

full incread capacity was expected through 2017!

low technical risk debottlenecking project!

and captial costs of $25mio ("engineering and costing study")!

expansion was made with the principal contractor!

So my thoughts and questions are:

for the increased capacity we have still time compared to the above tgs' statement!

it's definitively not a low technical risk project (as we have seen now!)

and also because of the seen risks we have much more than the expected costs!

there should be definitively an insurance/warranty if the project was made and constructed by a contractor! So IMO the construction faults and the failed design (construction) is definitively the failure of this principal contractor!!

What do you think about my thoughts vs tgs' report 2015? And have they done the expansion by their own that we don't see an ann. about insurance or warranty??!

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MS, you are correct. Appalling outcome. They should have got this right first time.
I also raised the point about warranty for works. We also deserve to know the details.
TGS Price at posting: 4.9¢ Sentiment: Hold Disclosure: Held
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