I looked at the BPH announcement and it appears the effective...

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Justadabble

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03/02/22

13:02

Post #: 59328806
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Originally posted by Whiplashed: ↑

Not sure where you’re getting your dates from but I can’t reconcile them with the announcements.

12/08/2019 - mec announces settlement of all legal disputes - describes Breeze and co’s return to controlling Advent (and by extension, onshore energy). BPH’s announcement for the same event was on the 9/08/2019.

I can’t see the Bonaparte deal termination announcement (nothing on MMR’s announcements for 10/8/2019 as you’ve indicated) but would bet my left nut that if it happened around the time of legal settlement between BPH and MMR and when Breeze & co controlled Advent again then it would be directly associated.

So anything happening from ~August 2019 is directly controlled by Breeze.

Looks like the MMR ann report (30/8/2021, last 2 bullet points page 4) paints a glowing picture of the plans for EP386 including the drilling submissions to WA govt. Without seeing the application to variation you mention was allegedly sought on 1/11/2019 (evidently by Breeze based on my dates here) it obviously didn’t satisfy the regulators. Breeze got his sook on from there and he’s been fighting with DMIRS/SAT/now supreme court ever since!!

Ah, just found that the Bonaparte deal was terminated on 10/08/2019, a few days after Breeze&co got onto Advent board. See p5 of 1/11/19 BPH announcement for Advent’s annual report. MEC can not have been a signatory to that agreement as it had no direct interest in Onshore. The legal settlement removed any bargaining power MMR had over Advent’s affairs w.r.t. the stupid terms of the ~$3.6m loan agreement. MMR’s own announcement around that time also notes it as a “passive” investor in Advent.

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I looked at the BPH announcement and it appears the effective date for David's return was in fact 6/8/19. Most plausible explanation for me is that "Bonaparte" terminated the deal after those they did the deal with left Advent/MMR, just my theory. I have an alternate theory which I won't put on a public forum as I have no actual evidence to support it.

Based on info in the FOI, David went to work very quickly on PEP11 upon his return (Y4 works were due for completion by 12/2/20).

I did find a decommissioning document for EP386 on the net, Tobias Foster was the Advent person responsible for that project.

TBH - I really don't know whether EP386 is extremely relevant or totally irrelevant to Advent and MMR today, it's one or the other.

MMR Price at posting: 0.4¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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