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Forum backers have invested around £600k plus their time so far. Plus whatever they provide as operating capital when they fully take over all director roles, plus value of any RTO asset bought .
Assume total of this value added is £3m for argument sake - what return on investment multiplier may be considered reasonable for them? develop a business to gain the AAOG tax loss in full has to be key driver , so a turnover scale that allows this to be leveraged.
New NED Tania brings strategic planning corporate skills, so a going concern longer term intended presumably for their plans to grow and make it worth their while.
"Forum have been very good a covering their tracks, and for that I have respect, it removes all rumour, gossip and speculation."
You can say that again, very difficult, if not impossible to pin anything down with any certainty.
But as for having no interest in oil and gas Forum Energy Services Ltd (our 23%+ shareholder) does own Saltfleetby Energy Ltd which in turn does own 49% of the Saltfleetby gas field.
But the ownership trail goes cold with Paul Forrest - it shouldn't really, so - is that asset ultimately held on behalf of someone else and is just "parked" with Forum for convenience?
And our two new directors do seem much more interested in African minerals rather than oil and gas - but then again AAOG was born as Namibian Resources plc, so maybe we will revisit the company's roots.
But I guess the most important thing is Forum are putting in cash, so at least it doesn't look like we will go under anytime soon.
Indeed, it's a great thing to have someone on board with a look behind the scenes. Thank you, Alex, for sharing your opinion with us!
Alex, your input is welcome on this room, even if not on Zen. Sometimes the truth is hard to accept.
Highlander
sounds reasonable what you say, you obviously know both parties so best position.
Whats your view on Forum in all this
The thing is Forum said they didn't want the shares before this LOI and agreed to the deal restructure.
I think this could fundamentally change the position and perhaps their voting intention.
Notice this ROI RNS was issued exactly a week after the last AAOG deal change RNS, ZEN would have known about the ROI a week ago and that their share value would no doubt increase, aswell as AAOG % value if the disposal goes ahead.
Its sly by Zenith if this is true and AAOG have fallen for it, or appear to have done so. Yet again, best value for AAOG shareholder ignored or mismanaged. I sense DS advising Zenith or involved in the background.
Maybe Forum will change their mind now pre GM as if this LOI cash is real, that leads to securing the Tunisia asset or W Africa producers, which leads to RBL which could lead to Tilapia licence renewal at least, with proven reserves and some oil being booked in the future, albeit at low current price, it provides a potential foundation for Tilapia development, but much is very much yet to be proven and seen to occur before that leap of faith.
However, as all matters require:
"Completion of the Disposal remains subject to Ministerial consent to change of control in the Republic of Congo.
Zenith will drop as a letter of intent is not worth a flying f..., also look at the conditions of it, sounds like something DS would come up with. They are on a pump and dump.
The way I look at it The shares in zen that we were potentially going to be issued at 0.5p and that forum didn’t want for £300k have been valued by someone else at £2.5m.
Yes, I read it wrong :(
Or they will buy here to force it?
So Zen strategic investment is conditional on AAOG - must be fairly confident on this completing...?
Corrupt as always with near 80% rise pre-Zen RNS.
https://www.lse.co.uk/rns/ZEN/letter-of-intent-for-us2-million-investment-5s18rhgp4lfz3w9.html
Pretty amazing news for Zen really.
BERB just took a strong position on bid for Zen and AAOG so could be interesting...
Some serious buying in zen this morning, news or leak? Somethings going on by the look of it