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We certainly seem to have the right connections and experience to do a successful RTO. Ms Cope is very tight lipped but hopefully have news for us soon.
If they can get into a new venture and get rid of the AAOG name things could become interesting.
Further research into Mark Andrew Rollins reveals that he actually became a non executive Chairman of Aim listed Advance Energy Plc (formerly Andalas Energy Plc) in February 2020.
It is IOM registered so again doesn't appear of Companies House searches.
The shares were suspended in December 2020 pending a RTO to insert Far East assets into the company and they are in the process of raising funds and issuing a prospectus.
Tenaz Energy plc is obviously another project, lets see if and how that develops.
Thanks Skittish very informative!
Thanks Skittish ...interesting stuff indeed, looks like there’s hope after all, lol.
Interesting. 2 of the other company’s Sara cope is a director of share the same company address.
No need to apologies, being AIM could be a bonus during a take over as there is far less regulation than main market.
Sorry Mouse,
I am overegging it, even whilst trying not to.
AAOG is of course AIM listed, not main market.
But lets see what happens (if anything)...
52 days to go.
Thanks.
Dear Mouse,
I was trying to be subtle, and not overegg what is in reality a pretty dire situation.
What AAOG has to offer in my view is -
a) a main market listing
b) An eye watering £41.4M (at 31.12.2019) in accumulated losses which can be set against future profits if an O&G business is reversed in
c) The possibility of funding sources , if required, whether it be via SC and her contacts, Riverfort or the 23% shareholder Forum Energy Services Limited and its backers.
d) A clean shell
I don't pretend that AAOG is attractive in itself, it isn't, it merely holds the possibility of being a vehicle for someone else, and those accumulated losses are not to be sniffed at .
No SC, on her own terms has a pretty successful career and many contacts. Successfully reversing in HE1 and listing, now with a market cap of £34M is not to be sniffed at.
But Messrs Rollins and Marino are in a different ballgame, they are each used to running large companies with turnover in the £1Bn+ bracket.
So where does SC fit in to their plans and what can she bring to their table that they (or anyone else) cannot?
Of course, SC being CEO of AAOG may merely be coincidence, just one of a number of hats she wears, and she will have many contacts and business interests.
And Phil Beck resigning on 29th January 2021, with Tenaz Energy Plc being incorporated 3 working days later may also be pure coincidence.
But I think AAOG would have something to offer the right person at the right time in the right circumstances.
Will the stars align?
I don't know - but there is a chance that they might.
But is ever it is only a chance.
Skittish, as ever your post was very well researched,unbiased and written so we can all understand it.
The post could be understood in two ways.
1. Sarah cope is working hard to find us a new venture.
2. She is making way to move to if we delist and close down.
Would you please inform us what exactly AAOG has to offer on any new joint venture or take over.
Many thanks.
Mouse.
Good post Skittish
Hope is all we have atm
Another company that looked dead and buried, NUOG have been thrown a lifeline recently
I guess none of knows what what time will bring!
Thanks skittish, stay safe.
I haven't posted on here for a very long time - but still hold a few shares.
And yes I too was deceived by Sefton's pumped up enthusiasm - he just happened to fail to mention that the company had run out of money, and was incapable of pursuing any of its published projects. I was taken in.
Whist time is running short - the company has until 4th May 2021 to come back from suspension or be delisted - I don't think all hope is lost - at least not just yet.
The reason for this rose tinted view of an otherwise totally useless share? Well, Sarah Cope.
Yes I know that she appears to be useless - and many have commented that she was brought in by Sefton himself, after a boardroom battle which allowed him to keep raiding the drinks cabinet for another 18 months, at up to £3K a bottle.
An example of such uselessness would be the Companies House register for AAOG
https://find-and-update.company-information.service.gov.uk/company/04140379/officers
which still shows Phil Beck as a director of the company even though he resigned, "with immediate effect" on 29th January 2021.
But she does appear to be quite well connected.
Not only is she on the board and helped to float Helium One (IPO 2.84p, now around 7p - and believers very enthusiastic, market cap currently £34M).
http://www.helium-one.com/board-of-directors/
Which was created out of what was left of Attis Oil and Gas.
If you just look at the Companies House page for AAOG, you'd think that SC was a member of just one board of directors.
https://find-and-update.company-information.service.gov.uk/officers/7N6VrFWEkK3nITlgg1_IhVrIMg4/appointments
But a deeper dive reveals that she holds several directorships (Helium One doesn't show up as that is BVI registered).
https://find-and-update.company-information.service.gov.uk/officers/SLpU10WuFmYP-VUmgH1nKkIBa0g/appointments
One of interest is Tenaz Energy Plc newly incorporated on 3rd February 2021.
https://find-and-update.company-information.service.gov.uk/company/13178268
Not because it is interesting in itself - it actually appears to do nothing - but because of who the 3 directors are. One is SC of course, the others are Mark Andrew Rollins and Anthony William Marino.
Mr Rollins was until 2019 CEO of Ukrnafta OJSC, the main Ukrainian state oil company which has S1Bn annual revenues and 22,000 employees and formerly a VP of British Gas. Mr Marino was until 2020 the CEO of Vermilion Energy which has $2bn annual revenues.
There have been a number of other new companies with which SC has an association created this year, but Tenaz stands out because of who its directors are.
It is obvious what Rollins and Marino bring to the company - vast experience and connections. Both big hitters.
SC? Well she must bring something to the company - her own experience and connections.
I put it no stronger than that - because it cannot be otherwise.
A glimmer, merely a glimmer of hope.
Never! Always hope until suspension time runs out. Calling Tiburn, ring ring
'Only invest what you can afford to lose' - yeh right! Whilst there is a day of suspension left there is hope ....... keep the faith. GLA
Looking like a lost cause now with this share!
Can't see this coming back now, going to have write this off now.
People don't post on here, not even any rumours on here to chat about.