WHL dives as Seychelles deal collapses

  WHL managing director Steve Noske. Picture
UPDATE 3pm: Shares in WHL Energy fell sharply after the company announced a $60 million farm-in agreement with an undisclosed oil and gas major over its Seychelles project had fallen through.
"The potential farminee has notified the company that it is withdrawing from any further negotiations at this time as it has been unable to formalise its board approval," WHL announced in a statement.
"The potential farminee had noted that timing issues on the proposed Seychelles farm-in work commitments needed to compete with its large portfolio of global developments for funding at this time."
WHL managing director Steve Noske said while the decision was disappointing, the potential farminee proposal had supported the company's internal valuation and view regarding the prospectivity of the project.
"The proposed farm-in transaction had also provided independent third party verification on the body of technical work completed by the company along with the valuation of the Seychelles acreage."
WHL said it was reconsidering its Seychelles strategy, including discussions with another party in regard to a potential agreement on a seismic acquisition in the Seychelles project area.
WHL shares closed off 0.8 cents, or 33.33 per cent, at 1.6 cents after touching an intraday low of 1.4 cents.


The West Australian July 18, 2013, 11:34 am


  1. More problems for pl!
    Now, no oil, no natural gas to be searched in Rene and Michel life time.

    Tenir pa large, nou pre pou Aric kot nou destin!

    All bullshit!
    We still have yet to pay a single cent on the Lehman brothers bonds!

    Michel, go hang youself

  2. It shows also how foreign investors do not have trust and confidence in Pp communist regime and its strategy and policy.On 30th May 2012 WHL confirmed that Seychelles has world class and multi-billion dollar oil deal.Seem now to have been just been a window dressing to entice other investors fail to work.

    Jeanne D'Arc

  3. A few words on the Election Reforms

    If we want to create more effective,receptive environemt for genuine election refroms,we should keep two priorities in mind.First,we should focus on changing the terms of the dedate which so far has not resulted in a great deal of management on reform issues.Wehas seen no meaningful progress in the actual election refroms.Many areas that badly needed refroms have been left untouched:E.g meida remians muzzled.that is because the key players in the reform process---amolst always lack a yardstick for judging reform debates.Ideally,the yardsticks should work not only for the ruling aprty but for voters who will at best rely on shortcuts and heuristic to refereee fights over election reforms.Second,we should focus on the mechanism that spur policy diffusion.There is a robust social science literature that suggests that shortcuts play a useful role in diffusining best prqctices.If our goal is to get from "here and there"the questions is whether we can create other institutions and decision making shortcuts that would build on the insights to speed the spread of goog policy.

    The comedy show entiled "Election refroms"preformed by PP/Ram are simply enacting eletoral refomrs that undermined oppostion parties to win.The reform debate tends to be impressionistic rather than evidence-based and....style of politics in which voters are not given real policy chioces at elections.it is calcvulated to alongate Pp tenure in office.Ram the lapdog was called in to dangle the mascot of refroms to give some kind of legitimacy to the fake process.Ram bound to the pact by his wickness,greed,selfishness,incompetent.He is fighting fo his life pension ever year;his direct line to PP give him more clout hw would otherwise have enjoyed.

    Now,when wopuld the people consider the election refomrs as genuine?The people judgemnt will be based on the following.Creating and promoting a climate forfree aprticipation by endeavouring to:
    1)Elimate any impedement to legitimate political activities;2)allow elections that reflect the wishes of voters,Election reforms should make MPs,ministers and so accountable to the people they supposed to represent;3)politcal sovereignty lies with seychellois people and their wishes must be respected.Pp must learn to accept the verdict in god faith.it must learn to graciously and be humble in voctory as part of our political culture;4)The barriers preventing the actors from entering the scene of politics enjoy a natural freedom;5)The voters are not deciding under pressure;6)The administration of the election is executed by an indepednet,proffesional and competent and neutral body;7)The counting of votes is free from tampering;8)The amry,police,etc.. should cast their votes in the district they live not in secret ballots in military camps without any possibility for indepednt obeserving;9)The rules are transparent and known;10)There is a right for appeal.In other owrds,the principle demands of the Oppostion and civil society in order to allow and ensure civil society participation and help restore public confidence in the democratic process.

    In the absent of all participants and premeating ideas the actual refomrs proposed by Pp/RAM remians a farce.it is solely used as a Potemkin village.Election should address democratic deficit Pp/RAm.Election should be the most acceptable mean of political transition in any given political sphere.The principal mechanism for tansiting that consent into governemntal authority is holding FREE,FAIR,and Credible elctions thus first genuine refroms.

    Jeanne D'Arc

  4. Reply to Jeanne D'Arc

    1. The PL and Gappy agreed with all parties that the Electoral Reform would be run in full on SBC. PL broke this material commitment that would make the people part of the REFORM process. Now it is behind closed doors; NO ONE CAN WITNESS A SELL OUT IN PLAY NOW!

    2. The PL promised at housekeeping stage that they would not change any recommendations made by this Electoral Reform Committee, and the Commonwealth said that the National Assembly must not make any changes to the proposals- both Speaker Herminie,Leader of Government Business PL and Attorney General said they will not follow this condition- this means the REFORM is just a exercise in vain, because PL will at the end do what they like. RAM gives them credibility to a noncommittal process by PL.
    3. PL have financed PDM and obstructed openly the democratic process. YET RAM gives credibility to this obstruction by attending the ELECTORAL REFORM. WHY?

    4. Timeline for Reform was set at 6 months, now it is 2 -3 years and RAM now says, "there are thousands of issues to discuss".Really Now!

    5. RAM is seeking PL Government funding of 5 Million per president and 250,000.00 per MNA in each district. Add this up and we get: SCR.12 Million to run in an election. He once asked me and another business man for 10 Million in last election, I know it does not cost this to run an election. RAM sounds like he wants us to build him another VILLA. Where did you get the money for the last VILLA in St. Louis RAM? Just asking.
    Seychellois need to hold RAM accountable, like we hold PL accountable. Sell outs are sell outs, now matter what party they may come from. It is not about money RAM, it is about survival of the Seychellois People!

    If you want money, pass the bucket in Church or get a business, and take your chances like all of us.

    Seselwa Unite!

    Sesel Pou Seselwa!

    Christopher Gill
    Seychelles Freedom Party

  5. 2 to 3 years thus just bfore elections which is another tactic not to conduct real reforms-They will throw the non-reforms to us before elections give us not change to scrutinize the fake refroms.This can not be called a reforms and thus cannot be accepted by the people.
    We will have therefore another fake election whereby election si won by fraud not by votes.Seychellois this time around will not accept such robbery of their votes.

    Election refroms n^must provide alterantives to the ruling party.And the reason why Seychellois want refomrs is becuase of malpractices,so they would never accept Pp/ram election refroms.Instead they would taske into the streets to get PP/ram respect their rights.

    Jeanne DÂrc

  6. Morever.the Commonwealth canot replace oppostion parties and the Seychellois people when it comes to lection reforms.Commonwealth role is not to set up conditions,rules and dictates the norms but as a HELPER/Adivers only.

    But of course Pp/ram will try to tell us that the Commonwealth told them there is no need for that and this as a means to fake reforms.

    Commonwealth canot and will not repalce thepeople of Seychellois who want to see real reforms that allow alteranitves to the ruling party and promote democracy not grab on power by crooks.

    Failing to conduct real and genuine reforms in order to steal election will result in the use of force Pp and that is unconditional.And it is not Commonwealth,United Nation,SADc whover that will tell us the contary.

    Jeanne D'Arc

  7. About election its good JD has raise this point.Commonwealth no how our peoples been suffer with this regime with their corruption during those 35 years,commonwealth we are under dictatorship seen 35 years our peoples are getting poor with this group of criminals.Those peoples from commonwealth Pp have transfer million on their account they are not perfect than those crooks,its time to get out of this shit commonwealth it dont make sense any more to be a commonwealth country,because its just keep our suffering more painful.I would like one of this peoples from commonwealth to come and tell us if Seychelles is democratic country.

  8. Unfortunately, the Commonwealth is run by a crook from India call Sharma. All he does is go around the world on holiday paid by the British tax payers.
    He has not dealt with the issues facing the Seychelles as he is very close to this illegal Government.

  9. Indeed mr. Michel has cunningly foe friended sharia with free rooms and meals on desroches island resort. Sharma.

    But the commonwealth is also aware of pl corrupting opposition creating a complete mess.

    Watch as ramkalawan does pl bidding providing excuses why over seas Seychellois should not vote.

  10. If Indian is in charge of anything in this world rest assured it won't succeed. Indian knows one thing only and speak one language only and that is: CORRUPTION

  11. Pp think the Common Wealth would help legitimate a fake electoral reforms.The representives of the Common wealth have been bribed,catered in five star hotel all inclusive ,they cannot resist the tempetation to side with a gang of terrorists in an attempt to falsify the eletoral refroms.

    If Sharma thinks he is here to dictate the norms to Seychellois and shoulders PP ,he must know any reform to be considered legitimate and genuine must be scrutinized and approved by Seychellois not the Common Wealth,UN,SADC,or any other organisations.The Copmmon Wealth has just an adviserory role here not to dictate or formulate in our palce what should be our duty and rights as a sovereign country.

    Now,Interantional experts,scholars etc... who had studied elections for decades have defined Seven attributes for democratic elections:
    1-EmPOWEREMNT:Democratic election involve the delegation of decision-making authority.
    2-FREEDOM OF SUPPLY:Citizens must be free to form,join,support conflicting parties,candidates and policies.
    3-FREEDOM OF DEMAND:Citizens must be able tolearn abnout available inforamtion through alteranitive sources of inforamtion.
    4-INCLUSION:Democracy asigns equaul rights of participation to all full members of the politcal community.
    5-INSULATION:Citizens must be free to express their political preference.
    6-INTEGRITY.One person,one vote.The democratic idea of equility demands weighting vote eqaully.
    7-IRREVERSIBILITY:Elections without consequences do not qualify as democratic.

    Thus,whoever is participating in Pp/RAM electoral reforms must keep the this in mind.If any reform does not entail the above Seven Attributes, it must be consider as VOID,and must be refused categorically by the people.

    Jeanne D'Arc

  12. Money laundering charges about to take place on Rambar company in Australia.

    Run for the hills Dr. Ramadoss.

  13. It is the same company that distibutes MANGOS around Australia coming from FAR mango farm?Or just another company created with stolen money?The strange thing with Dictators and collaborators is that they stole the people than invest the stolen money abroad while they bankrupt their people.We ccould have imagined those crooks after they have stolen the first time would re-invest at least in the country Like Guy Adam and create jobs for the people they robbed and in return create stability for their own political survive no always abroad .
    Sony Abacha ex-dictator of Nigeria-banked billions in Europe just to loose all after his death.MUbuto SESE SEKO ex-Dicators of Congo the same thing,etc..etc...

    Jeanne D'Arc


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