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I posted my reservations about the use of an independent report at the time considering James Berwicks connection to Ophir and all the main team at Havoc Partners who are ex Ophir. It didn't sit well at all with me. Others here ignored it or buried it as being trolling etc.
I found it surprising that AAOG in the absence of a CPR (which they claimed was coming) turned to Havoc Partners for an independent report which i felt was aimed at bolstering the company due to the CPR failure.
It just didn't happen that they could get any other independent company and i always felt it looked more like an excercise in 'help us out here' given all their links to Ophir (ie Havoc/Berwick) . Havoc actually take stakes in projects if you read their website - it obviously wasn't interesting enough for Havoc to take a stake in AAOG !
The main people at Havoc Partners are ex Ophir including Jonathan Taylor who is now a director at ATOG Sahara.
Havoc are investors in Calima Energy - of which Taylor is also a director.
If the Tilapia field was so good and ultimately so cheap, i just wonder why someone like Havoc didn't step in to take a stake
https://www.havocpartners.com/profiles
https://www.havocpartners.com/projects
Should counter sue for the cost, losses and damage caused by the Medco situation since the introduction, clearly it didn’t result in the best interests to shareholders.
Askell = here is Pandora’s box it contains magic.
DS, JB = thanks, let’s take a peak.
*box pryed open, ghosts come out*
Askell = wait you were supposed to sign these and pay me first
DS,JB = *slams box shut* woah it’s empty. *Throws box aside*
DS,JB = Later that day - let’s keep the box. Walks away.
Shuts door And The AAOG office is now haunted with the ghosts of Pandora’s box.
Sarah and others on Monday : does anyone have the number for ghostbusters?
Medco Sahara was renamed ATOG Sahara on 19th November 2019, according to Companies House, with both James Berwick and Jonathan Taylor named as Directors. The Indonesian directors resigned at the same time.
Messrs Berwick and Taylor ( 2 ex Ophir buddies by the way), probably think because the deal has apparently completed, they're home and hosed.
As far as I can tell, the transfer hasn't been ratified by the Tunisian authorities yet.
If ATOG don't do the decent thing by AAOG/Askell, it would serve them right if such approval to transfer was withheld.
That would be karma wouldn't it?
I don’t quite know how that kind of information would be leaked out so I shall take it with a pinch of salt. However if true I would pass it on to ATOG and tell them to pay it or sue us and bring this whole dishonest mess into the open .
On ADVFN, 'sweet karolina2' posted the following in relation to ATOG:
"One big horrible skeleton is already out. AAOG breached its contract with Askell who introduced the Medco assets and is being sued for £1m in cash and £700k in shares. Cope has tried to cover up the full horror by saying the claim has no merit, but only complete mugs believe that."
First time I've seen a measure of claim quantum.
sweetkarolina2 also states this claim has nothing to do with recovery of the c. £300k of DD money still owed to AAOG.
Potentially some big bills on the horizon. If true, looks like ZEN better get drilling then.
Well AAOG have said they spent ~£650k on looking in to it and didn’t go for it in the end. So I’m sure there would be a few contract signed by the all parties before any introductions? copies of invoices? purchase orders? sale orders? banking records? Minutes of meetings ? if it was done all above board and properly on both sides.
So isn’t it as simple as just look at the initial contracts?
And what exactly do they want? Is someone just ****ed off because they have missed out on a cheque and is it just for monetary gain or have any laws been broken?
The Tunisian Medco asset that underpins ATOG (Medco Sahara = ATOG Sahara) appears to have originally been brought to AAOG by Askell (see AEI article April 2019). We now know Askell have launched a claim against AAOG in relation to the Medco assets. If Askell really did broker this opportunity to AAOG, would they really have done it without some kind of Confidentiality or Non-Compete Agreement in place?
Either Askell have been, and are being, very silly and naïve, or there has been a huge breach of confidentiality here.
if it was*
"Is ATOG The property of AAOG."
no it is was AAOG would be in a different position completly, AAOG paid for the due diligence in to the asset, Sefton and Berwick said they couldn't get AAOG shareholder backing to fund it so Sefton and Berwick set up a new company and took the asset on themselves.
Is ATOG The property of AAOG.
"what if" the AAOG board has a side deal understanding (or we can force them) to buy a controlling interest in one of zens more minor sub projects in one of the many Italy projects for example, that could see AAOG bypass the RTO threat and be a second listing to help finance a project for Zen. i think that might be a good idea for AAOG.
Is scratch my back ill scratch yours the way forward?