Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Hi buddy, Thanks for the good wishes and good to see some positive info over at GKP for you. All Gkpers deserve a good result after what they've been through. I'm more than hopeful that someone will get exposed for what's happened here but as far as my own investment......we'll see Atb
Anybody now if they still have to provide a half yearly reports to the market despite the fact they are in administration?? I think there is one due soon
up 17%. I thought the kurdistan/iraqi oil fields were no good because of ISIS etc wasn't that one of the reasons why Barda Rash became worthless.
Hi Andy, long time no speak. Hope all of you guys will get some money back and some justice from the scam / robbery you went through. Hope you and your family are ok and would be nice to meet one of these days.
I knew you meant that YC so I thought I'd dig out his 'about' file. .
As I say slightly more qualified to judge !
Afren-Time for the Feds? On Friday Afren finally gave up the ghost and called in the administrators after it failed to get more funds from the Bond Holders. Although the situation received a handful of vague comments in the weekend press I am astonished that it appears that no investigative journalist has taken up this alleged breach of management responsibility and attempted to expose what might be a huge can of worms. I am aware that some shareholders are attempting to take action and they should be encouraged, as so far I have also not seen activity from the appropriate authorities who should be considering launching a criminal investigation going back some way. So many questions appear to have been raised it is difficult to cover up, such as whether directors ‘ignored’ a perfectly reasonable bid for the company, the status of companies within and under the Group umbrella and the transfer of assets therein. Time for action? - See more at: http://www.malcysblog.com/#sthash.N0jbo9CS.dpuf
About Malcy Malcolm has over 30 years’ experience in the Oil & Gas sector and is a widely used media source. He often appears in print and on screen, and also writes an acclaimed daily blog read by much of the resources industry as well as investors both institutional and retail. Malcolm is a Founding Partner of HydroCarbon Capital, which provides independent advisory services to the Oil and Gas sector. He is a Director of the Maven Income and Growth VCT 4 PLC, a venture capital trust listed on the Premium segment of the main market of the London Stock Exchange. He started his career at Wood Mackenzie in 1979. He was an inaugural member of the No 1 Extel rated James Capel Oil & Gas team and also headed up corporate broking, acting for the Government in sales of British Gas, Britoil and other utilities. Subsequently he became Head of Equities and main board Director at Williams de Broe before moving to Teather & Greenwood. Following that, he ran his own consultancy for several years, acting for a number of quoted and private companies as well as being a board member and advisor. He has been a Director at Noble and then Westhouse Securities and has extensive contacts in the Oil & Gas sector globally. More recently Malcolm has been the lead advisor to an HSBC Zurich trust on oil, gas and energy investments as well as working with the oil team at VSA Capital. - See more at: http://www.malcysblog.com/about/#sthash.zMtUfO6d.dpuf
Lol just joshling with you - I know really ;)
Lol, were in administration
Haven't been on here for a few days what did I miss...I say VOTE NO to those nasty villainous bondholders!!! :-D
I could be wrong but I suspect Malcy is more familiar with the oil and gas sector than yourself.
Could our legal team get the e-mail address of ALL your 650 members please? We are in a new stage after Administration, they may want to hear directly from us what other options are available. afrenlegalaction yahoo com
If one of the reasons that Afren went into voluntary administration was also to try to avoid some awkward questions by the authorities (and potential criminal findings), does anyone know what the effect on the Administration process is should the SFO commence such an investigation - does Administration continue unabated?
TW, touch a nerve did I? Sorry but I wasn't falling for the 'gentlemanly, respectful' nonsense anymore, that has become synonymous with the 'fruitless hidden negotiations' held between ASOG and AL. Clearly it was your duty to show a little more alarm, less respect and dare I say the word 'outrage' at the bombshell of ADMINISTRATION being rolled out to us one recent morning in the form of a Corporate Update by your own preferred person of choice for AFREN CEO, Mr Alan 'you should have taken 9%' Linn. Especially after Tony announced he had set up another meeting with Alan Linn not 24 hours before the dreaded Rns. Or was I dreaming that? You have to admit though, ASOG (both you and Tony) going on holiday just moments before AFREN going into administration was announced....... was an incredible coincidence. It's almost as if Alan knew you were both going :) All the best with the remainder of your holiday. Andy
Unfortunately there is no light at the end of this tunnel. Despite what some are posting here there will be nothing out of this for shareholders - i'm sorry for the negative message but I would try and accept that and not hope for miracles. There are plenty of conspiracists on here and while i'm not saying everything about Afren may be clean, this situation is almost solely due to the company being over extended with debt when oil crashed. Bondholders will likely take losses to.
Interesting to see the fight erupting between asog and the 'legal' team. Now the spammers can leave the rest of us in peace. So, is AFR dead yet ? Will it pull some clever tricks after it has died ? Maybe it will come back with some kind of dilution deal that will turn my 1p into zero p.
Trust me a lot of people will be shi**ing themselves tonight.
Fingers crossed. Not sure how long the admin process will take BUT if there is a decent POO recovery in short term, short term production issues not as severe as expected and some of the assets are worth more than currently portrayed there is always a small chance that AFR can be taken out of administration and we get something back. If however the prime assets are hived off to a subsidiary and we are left with bulk of debt + crap assets in Afren plc then we have been ripped off and I hope the legal action make those responsible for this fiasco pay for what has happened.
Tom Hayes 14 years porridge for LIBOR. Could be a sleepless night for some !
This is my first posting. I'm absolutely gutted what has happened to my hard earned money. I decided to buy shares as the Banks/ Building Society interest rates were rubbish. I had dabbled a bit and made a little profit, then I slowly started buying shares in Afren, I still keep thinking its been a bad dream. I've lost everything. I keep reading all the posts in hope that things seem better. What I don't understand is why wait until the shares got down to 1.8 to suspend them and a few days later go into Administration. I thought that the FCA would have stepped in before then. I can't believe that the media coverage is bad, especially when there appears to be relentless theft in someway in Afren. I just want to know could there be a tiny light at the end of the tunnel.
Hi TW, I just tried to read your post and was wondering what you were trying to say but I think I get the gist. Just for the record, I am not the legal team, just a humble PI ('private investor'...if that's what you could call someone who put money into the AFREN black hole!) who has embraces and supports ALAG's actions, especially after being so very disappointed with the comments and actions of the ASOG team. Or the lack of them if you will.. Malcy's comments seemed quite strong earlier. Do you think that Afren might go after him. He is well respected in the industry and has a good following. Do you think that there could be any merit to his post? I am still awaiting the details on the discussions that were had in our/my (Pi's) names with Alan Linn and ASOG by the way. Especially as it is all irrelevant according to Pete B (your team I presume?) I know that you should be fairly irate by now, at what has happened re administration, but it doesn't really come across in your posting. In fact I think it's fair to say that from a personal point of view, you have been quite disappointing. ASOG filled me with hope when I joined them. I'll leave everyone to make their own judgement on whether that was misplaced hope or not.... Now then, if you've nothing better to do have a lovely afternoon
Hope you are enjoying the Moray Firth. When ASOG met with Alan Linn did you have to sign any non-disclosure agreement and if not given last week's announcement is ASOG privy to any information that would be useful to ALAG ?
I've gone back to Malcy as he seems convinced of underhand behaviour here and asked him to highlight to the appropriate authorities.
I was invested here for some time and eventually sold in a loss after being in decent profit. This has been a disgusting show. The main point in me responding to your post is the part of possibly refusing a reasonable bid. Possibly, had they accepted the bid which was claimed to be of value to all share holders and obviously assuming the debt, quite possibly that could have opened up the can of worms that you mention, resulting in severe consequences that you, I, and I guess most would want to see. Back to the bid, would anyone in their right mind feel that it would have been worse than whats been dished up for shareholders. Also how on earth could they flatly turn it down without detail to all holders and then do this. Will this detail ever be out ?