Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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MrEMC2: I wasn’t trying to criticise. It just seems to me that people like Mr. Forrest are given too much credit on these sites.
Most of the time it seems to me they make it up as they go along. He hasn't got much money, at least he hasn’t in his quoted companies. If he is a front man for rich Filipino interests, that’s a different matter but where’s the evidence of it and what’s the plan? I hope your investment here will come good for you in due course.
Hi OofyProsser I had a gamble on AAOG because (and after) Forum put in £500k. Looked like a good bet at the time. AIM and shell company; I knew I was playing at highest risk. Cheers
Yes, MrEMC2, I understand that but his taking a stake in AAOG is not really a positive endorsement of his financial acumen, is it? You’d have to believe he still had the backing of a Filipino entity to impute to him any financial capability, surely?
RNS 20 Jan 2020
Forum : notification of major holding
94,041,011 23.71%
RNS 20 Jan 2020
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."
I don’t really understand the level of interest expressed here in Mr.
Forrest’s activities. There’s precious little in assets or cash in any of SEL, Forum or Orwell - other than, presumably, the Saltfleetby-Theddlethorpe pipeline, which is mortgaged to the Lenders. I’m not aware of his doing anything very impressive in any of these companies (though if Angus had managed the Saltfleetby project competently, the huge rise in gas prices would have given him a massive windfall). Can someone tell me why he’s taken so seriously here?
Paul Forrest selling at Angus - now we know why. £1.4m placing @ 0.8p at Angus.
You never know! Though Wingas may have sold Saltfleetby in the first place on consideration,of the Interets of the Russian State. I’m sure President Putin would prefer Europe to take peak gas from his new pipeline rather than from massive storage facilities under Lincolnshire.
Oofy, maybe some Russian roubles will come in to refinance the loan and give the time needed.
Irishmouse: I should think that with 49% of the Saltfleetby gas field, he probably thinks he’s got enough and needs to de-risk/diversify his investments a bit. Presumably he bought these shares in the first place with part of the money left to him by Wingas for a pipeline decommissioning reserve. I doubt there’s anything more sinister than that, though his timing may be influenced by certain short term considerations after a big rise in the Angus share price (as there was a month earlier in the Sound Energy price). I agree that as it stands the Sound Energy bid is a non-starter - if it was ever a starter. It’s already worth nowhere near 1.5p in any case at the current Sound share price. And think what would happen in the event of a successful bid to a combined Sound/Angus share price with nearly 40% of the shares in the hands of fed-up ex-Angus shareholders.
I don’t think Mr. Forrest would have an interest in beating down the Angus share price. As for goose and golden egg, there’s a chance they may make it across the line in time to gas production, and at the necessary scale, but there’s some pretty high hurdles to clear before June. I think you need to have a pretty high risk tolerance to invest in Angus. It’s more like a roulette chip than a stock market investment. Who knows, though?
SEL is in the same boat as Angus: the gas plant needs to be operating at forecast output levels by July or the ownership of their assets may change hands. And Angus are short of the money they need to finish it. It’s been suggested on another chat site that the most likely resolution to the requirements of all the parties in the £12mm. loan may be the provision of some more short-term finance by the Lenders to tide Angus over to full-scale production - though at a price.
Sounds offer is a non starter, but no other offers have been declared are there any ?
Oofy would he be raising cash for some reason ? Would he be trying to depress the Angus share price for some reason ? Is Angus the golden goose we thought it may be ?
Answers on a post card please.
seeing this share on the board brings back bad memories!!
Irishmouse: I wonder what price he paid for his Angus shares. He owns 49% of the Saltfleetby project and shares offices with Angus’s FD and with Tidswell, (see my post 2 before this one) and the Earl of Lucan. Not an insider at all though, would you say?
He is still selling over at Angus, I wonder why .