Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Geopolitics/strategic aspects - Russian courting of the Congo President and 500km pipeline being built from coast to Brazzaville, Chinese debt restructuring giving Congo a break financially to enable IMF funding
1. Lukoil buy 25% of Marine XII from New Age for $800m
2. New Age then conduct seismic and announce drill in 2020 Q1 surrounding Tilapia
3. Lukoil probably wanted to make a bid for New Age assets aswell in Congo
4. CNOOC gets there first to head off Lukoil and buys them out in ROC
5. Lukoil response ? Take AAOG real estate right in the middle of Chinese Licence area via a shell such as Forum
Forum with its past Russian links that Skittish pointed out - the £14m on account that itsagame found must be from Russian sources - what else? The Directors Forum appoint may be indicative.
DS was Chief Legal Officer for the international acquisition arm of LukOil and could have set this Forum sale up.
But not all has gone his way, ZEN were a port in a storm. but their CEO flits from opp to opp and achieves very little on the way except burning their PI cash - SNPC/Minister may not give him the time of day on approving the disposal, debt repayment and licence.
Meanwhile:
Dec 27th RNS stated:
"The SPA is conditional, amongst other things, on the passing of an ordinary resolution of shareholders in the Company in a General Meeting approving the Disposal and certain regulatory requirements in the Republic of the Congo including consent of the Minister of Hydrocarbons."
With wider Russian influence, would this consent be given to this operator? if not given, AAOG still own 56% of the asset and the disposal does not complete, but with a changing board of Forum appointees, who have cash to progress and no baggage on who they appoint to best get the job done.
Skittish - would very much appreciate your comments and repost of the Geoplitical aspects you outlined previously
PEDL 005 shown on this map, just north of Louth, Linconshire
https://humberoilandgas.co.uk/biscathorpe/
maybe a farm in to one or more of the following
TF38a
TF39a
TF48a
TF49a
Or maybe (i have not come across any so far) a non UK asset?
i might be letting my guard down but the more i look at forum the more intrigued and almost excited i am.
Saltfleetby had £14m cash on last set of accounts, and the fact that forum owns 75% of it as of 17/6/2019, and that is why companies house shows nothing for Forum - their last accounts note was dated "Previous accounting period extended from 31 December 2018 to 31 May 2019" which is just before the declared 75% ownership of saltfleetby
https://beta.companieshouse.gov.uk/company/00953066/filing-history
done, 15 pages of screenshots, the first time 3 monitors have ever come in useful.
that the kind of thing the trolls at share prof.... and the ilk like to have so expect it in an article beforelong (not from me though).
would be a such a shame if it took the 14 day VWAP down.
"After I rejected, my old colleagues in Orion Securities Norway (which now doesnt exist, but it's the same peoples now working directly for Zenith without any permission from the Norwegian Financial Authoroty to make M&A's which is not legal, but thats another story) suddenly was given the Private Placement-case, but now @ 0,35."
I can see why he gets on so well with our directors.
Its a game et al - screen shots useful
haha it seems that way Tilburn!
ps clicked on every UK O&G license on ogauthority, saltfleetby are only listed on the PEDL005,
and on a side note interesting to see that most of the UK licenses are operated by EGDON, INEOS or IGAS i knew they were big but their control is massive.
"Of all the gin joints in all the towns in all the world, she walks into mine."
It is probable that Ms Cope now has no script from on high and has been left to to her own devices to close this down, just shooting from the hip now and reacting to BB comments?
Come on Align.
that is actually hilarious, i mentioned Angus' £1 purchase of Saltfleetby gas field just the other day
"Doesnt have to be a Zen asset but potential is out there, a simple asset to retain the listing, a new asset could be taken on with close to no upfront cost and only cash being spent on development at later stages down the line (eg Angus and the gas project that cost £1 + cover decommissioning costs in years to come, by which time i would expect the subsidiary for Angus to have ceased trading or be sold off but thats a different story.)"
This is the same company Wingas / Saltfleeby / Forum all linked
https://www.lse.co.uk/rns/ANGS/angus-energy-plc-acquisition-of-interest-in-saltfleetby-gas-field--1fyx9d6q96omon4.html
It is PEDL005 on the left side you need to click on.
https://itportal.ogauthority.co.uk/information/licence_reports/onshorebylicence.html
have a look at that
I must say when I saw the RNS concerning the sale of the 82 million shares at .5p I was furious.
One week the shares are used to defeat the interests of private shareholders the next week sold to some opaque company for peanuts.
There is no doubt that David Sefton and James Berwick are corrupt liars, who have raped the expense account, and lord knows how many £ millions are missing from Anglo's bank account.
And if seagreen on the other side is to be believed then James Berwick's glittering military career is a work of fiction also, one worthy of Enid Blyton. Maybe he was in the Catering Corps - but probably doesn't know one end of a gun from the other.
And I bet he hasn't even had to change offices, but still swans in and out of 12 Berkeley Street, Mayfair, just as before.
And I would include the rest of the board with them (with the notable exception of Brian Moritz who probably fought a lone and lonely battle to protect shareholders interest), but maybe (only maybe) I'm rushing to judgement.
So we have been lied to by professional liars, and those who were in receipt of phone calls and emails from Berwick prior to the December bombshell will know exactly what I mean.
So where to now?
Around 20% of the shares are now held by Forum Energy Services Limited
https://beta.companieshouse.gov.uk/company/09903234/officers
A company with one director, one employee and 2018 accounts reveal assets of around £10,000. So a one man band operated since 2015 by Paul Forrest, although he only owns 25% - 50% of the shares.
So far so opaque.
Clearly it is intended that there be some sort of RTO at some stage. Will shareholders be diluted - very likely.
So what could Paul Forrest, one man band do for us, and why was his offer considered "better" than that of Align and our ex CEO Alex MacDonald whom the vast majority of pi's would have preferred.
Forum Energy Services Limited is registered at Second Floor - 32 Grosvenor Gardens London United Kingdom SW1W 0DH on 8th January 2020.
Other companies are also registered there one of which is Saltfleetby Energy Limited, again with Mr Paul Forrest as the sole (present) director.
Forum Energy Services Limited is listed as having significant control of Saltfleetby Energy Limited since 17th June 2019 and owns more than 75% of the shares.
https://beta.companieshouse.gov.uk/company/00953066/filing-history
Prior to Forum Energy Services limited buying the company on 17th June 2019 the person with significant control was listed at "The Russian Federation".
This web page gives more details of the company -
https://suite.endole.co.uk/insight/company/00953066-saltfleetby-energy-limited
scroll down and you are directed to the company website, which immediately redirects to
https://www.gazprom.com/
Continued/-
Continued/-
Now I'm not suggesting that we are about to do a JV with Gazprom, and after all the Russkies did sell out to Mr Paul Forrest in June 2019, and all the Russian directors resigned on that date, but it may be that Mr Paul Forrest is slightly better connected than may at first appear to be the case.
And Saltfleetby Energy Limited owns 100% of the PEDL 005 Saltfleetby licence area.
So there may be something on the horizon.