Our live Investing Matters Podcast Special which took place at the Master Investor Show discussing 'How undervalued is the UK stock market?', has just been released. Listen 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. 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.
Roughly 4.5m buys vs roughly 2.2m sells and the price drops.
Got to love Nuog
I’m actually grateful for anything McCadder shares. The company has a tendency to keep things secretive
That's my fear, as far as I can see Damian has never really done anything & I'd imagine " daddy " was pushing him to do something so that he could pronounce a success even if it is / was a crock of **** deal - who knows with this lot, oh wait I am sure Mcadder will have reviewed it all so we are in safe hands
Whether there is a case to answer or not, it still remains at question if Damian Minty as finance Director did his due diligence on PVF?
The lack of such due diligence has got them into this mess or where they so desperate they needed to enter any deal to lift the shareprice
And although at risk of costs, Brian will just go bankrupt i expect.
YingTong - Much as i dislike Nuog, you know fine well there are plenty of lawyers who will claim a case is winnable just to get their fee (which they will demand upfront!)
At $120 to lodge the claim PVF have nothing to lose.
Harry, I would have to agree. On the one had there is the public noise, which would seem to to suggest there is little prospec of success for PVF.
On the other is the simple fact that PVF has spent a sum on legal advice filing. They are now, given it is the full track, at risk of costs. Even if EOI were able to get immediate strike out that isstill financial risk to PVF. Given the apparent difficulties in the work program I find it relatively easy to envisage a scenario where PVF were requested to do additional works which they believe were outwith the agreement and EOI within.
I would be surprised if there was immediate dismissal.
I guess given the timing for initial defence we can expect some sort of update reasonably soon.
Maybe so .
in that case we are doomed.
Yes . That is my oppion..
Starbuck
Are you saying that the official records of Newfoundland Company Register are not accurate?
SBP. That is not accurate information. It's probably from a few years ago . Why it's not been updated, i have no idea...
SB,
I am only competent to state that prior to issue of proceedings and draft of pleadings in an SOC, Counsel’s Opinion will have been sought on the merits and thereafter instructed to plead. This is not a small claim for a litigant in person.
I maintain that Counsel would not draft pleadings in an SOC if there was no cause of action and therefore merit to the Claim. . It is for the Judge to determine on the balance of probabilities not GS.
Harry
Harry
With the information vacuum that characterises NUOG, one can only look for other reliable information from the public domain to try and and ascertain what is going on.
There is a current director of EOI, according to NFL Province records called Tony Young, and he states publicly he is the Site Supervisor for EOI. How did he get paid or not paid? Was he supervising PVF? He must have known, as a director, that EOI was not in good standing and was likely to be struck off at the end of July. As the local director, he would have been aware, even if AM told him to keep quiet. Did he sit on the court notice?
It opens a can of worms, and he may be party to the SOC (he would have info after all)
Never mind the intricacy of all this, how the hell does the company fail to file statutory returns to the risk of striking off? Easy exit from NFL? Incompetence? Unwilling to tell the truth?
GS says there is no merit in the claim, just like the Moon is made of Lancashire cheese.
SB,
Are you inferring there are 2 Plaintiffs? If so, this would negate any contractual condition to enter dispute resolution.
The only Anthony Young who comes to mind is a former fraudulent Oil man declared bankrupt and gaoled in Kentucky years ago.
There seems to be confusion as to when EOi received the SOC. There is no duty of the Court to advise. Simply, EOi would be served at their Registered Office in St. John’s. They have 28 days to either serve a Defence, Admit the claim or as they assert their is no merit in the claim to make an interlocutory Application for Strike Out.
Harry
Apart from anything else the company is not in good standing, because the annual return is over 2 month overdue:.....
Company Name: ENEGI OIL INC.
Not in Good Standing
Company Number: 53797 Corporation Type: Company
Status: Active Category: Local
Last Annual Return: 2018-04-30 Business Type: With Share Capital
Incorporation Jurisdiction: NL Filing Type: Incorporation With Share Capital
Incorporation Date: 2006-05-05 Min/Max Directors: 1 / 10
AND...If the annual return is not received by the due date, it put in the status of “NOT IN GOOD STANDING”. The registrar may strike off the registrar a corporation that neglects to file an annual return within the time period.
##Now that might be a reason for a claim, before Enegi Oil Inc is struck off?
On the face of it, EOI is operating from a solicitor's office in a suite of solicitors' offices at 36 Quidi Vidi Road, St Johns. Interesting that a company called "Innovative Dispute Resolution" is a neighbour. Perhaps a bit of fee work for them then?
More interesting is that the company has 3 current directors, Alan Minty, Alison Pegram and Tony Young. This latter person is apparently the present Enegi Oil site supervisor according to his Linkedin account. So not just PVF.
Does this ring a bell with anyone?