The latest London South East Webinar takes place on July 6. Come and hear CEO’s from Orosur Mining, Caledonia Mining, Glantus Holdings and Tekcapital speak. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Tilburn - As I, and others, have now told you several times we know about the links, I knew about them way before you arrived on this BB actually, after all, the information is on Companies House. It's the rest of it claiming Philex/PXP are involved behind the scenes that I'm not buying and nor should anyone else without further evidence. I can't make it any clearer than that as I can't draw pictures on the LSE BB.
As do I GK, as do I.
And my posts are not unsubstantiated or misinformation, but written in good faith.
Did you even look at the links?
I dont mind if you dont agree with the inference, each to their own, but the source data is what it is.
Tilburn - As long as you are going to post unsubstantiated conjecture I am going to call you out. If you consider that an insult then that's just too bad. A filter is available for those that are too unsure of their position to be challenged.
As for me well I am a private investor who is unhappy at the trial of events and mis-information that has ensued here and since your arrival has continued. I represent, nor speak for, no-one but myself.
GKB47 - if in any doubt just resort to insults - so whats your game here, who do you represent?
Here is what you posted on AAOG:
"Just had a look at the cashflow situation and unless I've missed something AAOG don't have a pot to pee in do they? I'm not sure why anyone would want shares in AAOG even if they could get re-listed, I just don't see sufficient future profits from Poundland Gas to justify acquiring a shell who's only 'asset' is an accumulated tax loss due to prior mis-management? Something's not stacking up here..."
I agree with you - it doesnt stack up, so what could it be then?
You may not find the scenario ive outlined with sourced links if you cared to look at them palatable, but it does provide an answer your question.
Full ask paid after a log time. another decent buy should cause a tick up!!!! Come on GL, show us the money!!!!
I'm sure GL will want something in return for the 25% stake.
Tilburn talking tosh again, how many times do you need telling? What's your game here, who do you represent?
Where's the financing, George?
change one letter!
is it all just coincidence?
Same company buying ANGS and Forum Energy - may not be linked to Paul Forrest, but it makes more sense than not that they are, as he is linked in many respects
Forest Nominees is one "r", Paul Forrest is 2 "r"s.
I only found Forest nominees share position in Forum Energy yesterday so new info on linkages I would hazard has not been trotted out before.
My sole take-out from this fairly regularly trotted-out theory is merely this:-
Along with consistent and utter non-delivery regarding all things ANGS-related, there is equally consistent and utter non-transparency regarding all things Poundland-related. Welcome to tapdancing blindfold in a minefield, then.
Most sensible investors will avoid being lured by "what if's", preferring instead to be swayed by independently auditable and verifiable facts. Pipedreams and suppositions are best left as material for Ocelot and other pure PR staff to try to spin.
We've all got the message - some believe it, some don't and some (like me) are intrigued
No need to keep banging the drum
Apologies for the focus on ANGS JV partner Forum Energy Service Ltd to shareholders here - but there are some aspects worth emphasising as they may well affect the way forward.
Forest nominees have taken a 10.14% position in ANGS
Forest being the FESL front man, but maybe a naming coincidence.
Forest Nominees are listed at companies house as:
9999 - Dormant Company
As a dormant company, no accounts required as per exemption 480 of the companies act 2006.
But some funds have been moved through this shell to secure shares, not so dormant now are they?
On evaluation of PXP owned Forum Energy Ltd confirmation statement for April 2021
first pdf link
10000 ORDINARY shares held as at the date of this confirmation statement
Name: FOREST NOMINEES LIMITED
Now why would this entity Forest Nominees be invested in a private company such as Forum Energy Ltd with the massive 3.4 TCF Philippines SC-72 gas field ownership which they are just about to drill and also take a stake in a small gas play in Lincs? its a geometric scale different.
"The Sampaguita field is located at Service Contract 72, offshore Palawan. The field covers 880,000 hectares within the Reed Bank basin. The Sampaguita field, which is estimated to contain at least 3.4 trillion cubic feet of gas, with an upside potential of as much as 20 trillion cubic feet of gas. Aside from the large Sampaguita gas discovery, the SC 72 field contained at least eight other potential prospects. The resources within SC 72 are believed to be enough to form the foundations of a liquefied natural gas (LNG) project."
- Paul Forest is lead at shell company FESL in partnership with ANGS,
- he was secretary at Forum Energy until 2019
- Forest Nominees is invested in both ANGS and Forum Energy.
- FESL also took a position in AAOG and just made an offer for in essence full control now they are delisted, said offer being 25% of Saltfteetby, and so AAOG may also become a JV partner of ANGS.
This is the sourced data for these company dealings, what it means to each PI here is up to each person to decide, but to me this elaborate dance is positioning for Forum Energy Ltd to relist on LSE and so access to funding without an IPO process.
I would also say you have been given the evidence, but seem unwilling to accept it.! you attack the poster not the post.
Are FESL shown as owned by Forum Energy - no of course not, but do you think all is black and white in company ownership?
Forrest is either an accountant - as he is shown to be in the link i provided - or some big shot PI with aspirations for grandeur - cant be both
So I would agree that FESL ultimate ownership may not be PXP, of course - its not proven.
but same guy involved in Forum energy - owned by PXP
almost the same company name
AAOG NED Dexter Ferreira, appointed by FESL, also worked for PXP in the past
As you say, lets see how it plays out - but you deny objective sourced facts in public domain and provide no other theory for ultimate ownership.
If not PXP, then who? someone/company who likes losing money in small gas plays in Lincs?
as its not Forrest alone - will you concede that point at least?
I'm sure we will know soon one way or another,it all comes out in the wash.
All is not clear - maybe I'm just credulous but I do find the Forum/Forest names that keep re-appearing to be interesting. Why not give them totally different names if you don't have an interest? Philippines Offshore UK for example?
Most companies check out similar names at Companies House before registering them - and CH themselves have been known to "suggest" you think again if it's too close a Company in which you have no interest.
No w why a Philipine outfit would want a listing in the UK and are going to do it through AAOG - that's really wild stuff
“You deny all that evidence base, but provide no other evidence to support your view.
Far enough –“
You have been given the evidence but seem unwilling to accept it. Without doubt something is amiss here. However to close your theory down finally once and for all, read the last annual accounts for Forum Energy Ltd.
They are comprehensive in the present commitments the company is involved in. Forum energy SERVICES Ltd are not mentioned or listed anywhere.
You also mention the last confirmation statement as being blank. That’s because there has been no change! If what you suggest is happening you would be reading that Forum Energy ltd now hold shares.
Your posts are coming across as they did on the AAOG, BB as what you are presenting is fact. That could have proven costly to any MUG PUNTERS who believed you, as demonstrated by the 2 respondents to your original post here,
Give it a rest now and wait until the end of the Month for FESL and SE full accounts to be published.
Don't be daft PXP have not taken a stake in Forum Energy Services Ltd, Saltfleetby Energy Ltd nor AAOG and it is completely misleading to suggest otherwise. Likewise no-one can provide evidence for something not happening for which there is no basis that indicates that it is. In a similar way I can provide no evidence that BP, Chevron, Total, Exxon, Agip, Musk or Gates etc. are not involved behind the scenes. I doubt I'm going to continue with this dialogue as your theory has been rebuffed by several people now, so either provide some hard evidence or give it a rest.
You deny all that evidence base, but provide no other evidence to support your view.
Far enough -
Look deeper - why would PXP (if they are involved) , take a stake and want Saftfleetby to be a success - as you say its a small field not worth their bother.
my source based theory makes sense in this context and supports yours aswell in doing so!, they dont care about a small field in Lincs, but they do about relisting Forum Energy again, with a UK gas asset project for inference and kudos.
I agree with the last part, it's pure conjecture but personnaly I doubt PXP will get involved in Poundland Gas, it's not worth the bother.
I was not presenting any theory as fact, merely pointing out the potential of the connections and funding from PXP, which remains.
We see what Forum has done now, taken all the AAOG for themselves and PI may lose out, but they may still fund this shell further / or with an asset by their backer - AAOG fundamentally cant pay their share of 25% of field costs here, so who will? who is the backer who shelled out the initial £500k to take the AAOG share position, place the NED there? who does Forrest represent and what is their intention in FESL/Saltfteeby?
Forrestt is of course significant person in control in both FESL and Salfteetby, your absolutely right, although confirmation statement of the later is empty in doc uploaded Dec 2020.
No argument there at all - but this control is only on the surface.
Forrestt is an Accountant as background - and as such he represents different Companies in secretary/accountant roles, he isnt a rich private backer who could afford to take £million positions etc, he is just making a wage.
Look at his past positions, double glazing and landscaping companies in the mix:
such as GROUND UP (NORTH) LIMITED (10090683) and OPEN & SHUT WINDOWS LIMITED (09626964)
He has also represented Forum Energy Ltd - nee PLC :
Forum Energy Ltd
Appointed on 13 May 2015
Resigned on 31 May 2019
and who is the majority owner of Forum Energy, unequivocally?:
PXP Energy Corporation:
"PXP Energy has a 67.19% controlling interest in Forum Energy Plc with 48.76% held directly and 18.43% held indirectly through FEC Resources, Inc., a 54.99%-owned subsidiary. Forum Energy is a UK incorporated upstream oil and gas company with focus on the Philippines. Its principal asset is a 70% interest in Service Contract 72 Reed Bank offshore west Palawan, which contains the Sampaguita gas discovery. The Service Contract is currently in the second Sub-Phase of the Exploration Period which involves the drilling of two wells."
And now they have started exploration gain, may wish to relist this entity on LSE.
AAOG/FESL is a potential means for them doing so - providing kudos by being involved in a UK Govt approved operated gas field, this to broker further investment and backing for their core SC-72 gas field - always a goal to secure investment by PI and II from the market to pay for exploration.
In doing so , they may be more likely to fund Saltfteeby, as may wish to be seen to make this a success by inflection to UK investors - pure conjecture of course, I agree, but none the less it is a consideration.
Unfortunately for those PI’s over at AAOG you have been presenting your theory as fact for well over a year now. Seriously do you guys not realize that your histories are available for others to look back at?
Your main argument over there seems based on this from Mr. Forrest Himself
“Paul Forrest, Chief Executive of Forum, commented”,
"Forum is pleased to have taken a strategic stake in the Company and we are looking forward to working with the Board to create shareholder value. Forum has, through its investors and network, access to sources of funding as well as exciting and viable projects in the natural resources sector that could be suitable as acquisition targets for AAOG."
Well that didn’t happen at AAOG and Mr. Forrest’s / Forum investors and network, access to sources of funding hasn’t appeared to Help Angus/Saltfleetby Energy in the quest in the ever more distant £12 million rescue package.
All the evidence available disproves everything you stated in your first post. I attach again for you and others to check.
The tax loss of £60million that isn’t actually there is at the bottom of page 17 on the last Saltfleetby energy accounts.
Try reading the whole document and you might learn something.
Then there are the confirmation statements for both companies both filled in the last 5 months.
Unless you are suggesting a blatant fraud has been committed ? Paul Forrest is in sole control of both companies.........End of.
isishmouse - that may well be the case and I make no comment on the other aspects of the post. However parts of the posts, as reproduced by Tilburn, relate to involvement of PXP in AAOG and thereby now in the Poundland Gas field and I consider those parts to be just conjecture until I have evidence otherwise (not just historic links). That is my position.
You should be aware that there are those on this BB and on other BBS that are very well researched regarding Anguish Energy Plc and it's links and how events are very often at variance with the expecations and forecasts made by the company. Hence why I now focus on facts and not conjecture, especially since there are several posters on this BB who continually post selective and misleading information, you will have to form your own opinion on their motives for doing so.
gkb47, skittish is one of the best,well informed and unbiased posters on any of these boards .