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just checking the old circulars to see how long James, Sarah and Phil have left - reelected 29-6-18 for up to 3 years, which means there is only one way to remove them and take back control, it will probably include severance pay.
in line with the thread title i came across this little gem.. still share the enthusiasm James?
"Summary
The Company has continued to make progress during 2019, albeit not without delays and difficulties. However, I share the enthusiasm of our experienced team for the Tilapia project and I look forward to delivering a result for shareholders that will reward their patience and their investment.
James Berwick
Chief Executive Officer
27 September 2019 "
And while I'm at it - if anyone can forget - today is the first anniversary of Anglo's Djeno oil "discovery" at Tilapia - 29th January 2019.
Oh! How the band plays, the trumpets sound, the angels sing - what a wonderful time was that!
As DS's "relative" Quick Study posted at the time "The drinks are on me, David"
One year on and the shares have lost 97% of their value.
I suspect that Quick Study's military career, in the Fleet Air Arm, was no more genuine than that of "Captain" James "thick as mince" Berwick.
But you live and learn.
No doubt we will learn sometime who is behind Forum Energy Services Limited, and why they are so interested in AAOG, which is a company with an awful lot of baggage, so there must be something there which makes it more interesting than a plain old unencumbered shell.
And yes, Zenith appear to be as dodgy as any of them, so maybe they and DS/JB are perfectly suited.
Also interesting that a new CPR should be available in Q1 2020 concerning the Saltfleetby field now 49% owned by our new major shareholder Forum Energy Services Limited.
https://www.lse.co.uk/rns/ANGS/oga-approvals-received-regarding-saltfleetby-wpbbeck7pdsel16.html
Nice shiny CPR, £12 million in the bank, 49% of a soon to be producing field and 24% of the shares in AAOG.
Which still, at present, owns 56% of Tilapia.
What's not to like about that?
And if Zenith's share price keeps falling as it is, Anglo will soon be worth more than them.
I don't pretend to know where all this ends but Forum's nice shiny CPR should be available just prior to Anglo's money running out.
And Paul Forrest of Forum Energy Services Limited - small time accountant, nothing at all on the internet - more Forrest Gump than anyone of significance - so who are the big hitters who hide behind him and who can get UK government approval to take on a UK gas field and deal directly with Gazprom?
Unfortunately, we live in interesting times.
It is a tangled web.
But starting at the top the ownership structure concerning the Tunisian assets appears to be as follows
David Graeme Fennick Sefton of 12 Berkeley Street, Mayfair
https://beta.companieshouse.gov.uk/company/12270869/persons-with-significant-control
owns 75% + of the shares in
ATOG Midco Limited - Directors A J Berwick, J M Taylor, H Pingray all of 12 Berkeley Street, Mayfair
https://beta.companieshouse.gov.uk/company/12270869/officers
https://beta.companieshouse.gov.uk/company/11899484/persons-with-significant-control
which in turn owns 75% + of the shares in
Anglo Tunisian Oil and Gas Limited - Directors A J Berwick and J M Taylor 12 Berkeley Street
which in turn owns all the shares in (125,134,652)
ATOG Petroleum Limited a BVI registered company - Directors unknown - but which from the Charge document obviously is the actual owner of the Tunisian oil and gas assets
which shares are now charged to Trafigura Pte Ltd in repayment of the purchase monies
https://beta.companieshouse.gov.uk/company/11899484/filing-history
and also all the shares in the newly set up company Anglo Tunisian Energy Limited
https://beta.companieshouse.gov.uk/company/12431869/persons-with-significant-control
Essentially 75%+ of the ownership of the Tunisian assets leads directly back to David Sefton, albeit by a rather circuitous route.
Yet in The Times article
"Chairman quits over African oil group ‘rumour"
https://www.thetimes.co.uk/article/chairman-quits-over-african-oil-group-rumour-fb0dfgp30
(although it doesn't actually say what the rumour is)
the following exchange took place in the comments section -
Sally Curran
"David Sefton’s ‘work’ on AAOG is a scandal, it’s people like this who give AIM a bad name. He’s sold AAOG down the river, and miraculously a new company (ATOG), that he owns, seems set to benefit. AAOG Shareholders have been left high and dry with huge loses."
Reply Davd Sefton
"Just to clarify, i do not own any ofATOG. It is owned by James Berwick (recent CEO) and his colleagues. Please don’t repeat rumour as fact."
Reply Sally Curran
"Apologies David: it had slipped my mind that you set up ATOG (same address as AAOG), then resigned in November, leaving JB in charge (who was running AAOG, then resigned to focus on ATOG). Silly me."
Reply Sally Curran
"Actually David: are you able to explain your association with ATOG, between you founding the business on 22nd March ‘19 and resigning as a Director on 15th November ‘19, during most of which time you (and James Berwick) were supposed to be running AAOG?"
David Sefton actually denied owning any of ATOG - which Companies House shows is completely untrue.
He has tried to distance himself from all the companies, yet the trail leads directly to him.
And 12 Berkeley Street must be really busy as they are all operating out of AAOG's offices.
Continued/.......
Continued/....
Which is really odd as all of DS, JB etc have "resigned" and left the company.
Maybe they have just moved desks.
In fact I do not believe they have even done that.
And that is why it still costs £180,000 per month to run this company.
Clearly SC is simply a mouthpiece for DS still.
And Oilman Jim doesn't seem to think that control of AAOG has actually changed - but the same person is still in charge as was always the case -
(No guesses as to who that is - but his appointed directors SC, JC and PB cannot be shoe-horned out of the company by any known means)
Oilman Jim says -
"This (AAOG) is a highly questionable company (and I doubt the real control parties have actually changed) but with a new deal in, which seems a strong possibility, it could be back in business"
https://www.share-talk.com/oil-man-jim-company-oil-gas-podcast-mid-week-blog-29th-january-2019/
which could raise the possibility that the Zenith deal is indeed just a ruse, pending a Forum Energy Services Limited takeover - and we still have no idea who is actually behind that company, merely that it appears to have £12 million sitting in its bank account, a front man accountant no one has ever heard of in charge, and with its partner, Angus Energy as operator, is about to start producing copious amounts of North Sea gas by summer.
And yes, you know who, is still trolling on here.
"operational matters related to the recent Anglo African Oil & Gas plc transaction?"
what operational matters could he be speaking of?
"Zenith intends to use the net proceeds for business development activities (including the purchase of new components for its drilling equipment), operational matters related to the recent Anglo African Oil & Gas plc transaction and additional working capital. "
Skittish, the baked bean diet is not so palatable now that it is necessary for survival.
So zen got their money, perhaps things will hot up a tad, I am still waiting for a consortium of Aline/forum to make a move.
talking of him...
I just noticed yet another ATOG company registered today.
ANGLO TUNISIAN ENERGY LIMITED 29 Jan 2020
https://beta.companieshouse.gov.uk/company/12431869/filing-history
Curious99
Doodglebug6125
Angela6611
Papa9911
Does anyone else see a pattern in this Seftonesque nonsense?